Report: AIG clients got 50 billion in bail-out cash

Report: AIG clients got 50 billion in bail-out cash New York  - Business partners of the insurance giant AIG have, since the firm was bailed out by the US government in September 2008, received some 50 billion dollars in payments, the Wall Street Journal reported on Saturday.

Beneficiaries of bail-out funds from the firm number some two dozen, including the Goldman Sachs group and Germany's Deutsche Bank AG, the paper said.

Goldman Sachs and Deutsche Bank each received some 6 billion dollars in payments between September and December 2008, to cover exposures they had at the failing insurer.

The names of all AIG's derivative counterparties and the amount of taxpayer money they have received is still not known, but political pressure is mounting for disclosure.

Other firms that have received funds through the bail-out include Morgan Stanley, Royal Bank of Scotland, and HSBC. (dpa)

Business News: 
General: