Picture du Jour: How the AIG bailout really worked

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While the AIG controversy rages and the enquiry into the bailout gathers momentum, Professor Linus Wilson of the University of Louisiana (via Clusterstock) has put together a helpful chart showing exactly how the bailout was constructed and indicating which banks got how much.

“Two things stand out: The Treasury’s overpayment for preferred stock was a crucial part of the bailout, and though Goldman Sachs is usually held up as the bad guy here, SocGen received $2.5 billion more,” remarked Clusterstock.

Fascinating stuff, especially with American taxpayers coming to the rescue of the European banks!


Source: Clusterstock, January 27, 2010.

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