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Goldman Sachs Names European Banks It Paid Amid AIG’s U.S.-Funded Bailout

Posted By admin On July 24, 2010 @ 5:42 am In Money Watch | Comments Disabled

Christine Harper and Jesse Westbrook
Bloomberg [1]
July 24, 2010

Goldman Sachs Group Inc. said it made payments to banks including Germany’s DZ Bank AG and Banco Santander SA of Spain for mortgage-related losses as it received U.S. taxpayer funds through the American International Group Inc. bailout in 2008.

The list of 32 counterparties to Goldman Sachs on collateralized debt obligations was released today by U.S. Senator Charles Grassley. The largest payments were to European lenders that also included the London branch of Rabobank Nederland NV, Zuercher Kantonalbank and Dexia Bank SA.

“The majority of these beneficiaries appear to be foreign entities,” Grassley wrote in a set of questions directed at Elizabeth Warren, chairman of the Congressional Oversight Panel, and published on his website. “Can you please explain how ensuring that these institutions were paid in full, rather than required to suffer the consequences of the risks that they took, benefited the U.S. taxpayer?”

Full article here [1]

Goldman Sachs Names European Banks It Paid Amid AIGs U.S. Funded Bailout 270510banner2 [2]

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URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/news/2010-07-24/goldman-sachs-names-european-banks-it-paid-amid-aig-s-u-s-funded-bailout.html

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] Goldman Sachs Said to Give AIG-Hedging List to Investigators: http://www.prisonplanet.com/goldman-sachs-said-to-give-aig-hedging-list-to-investigators.html

[4] How Goldman Sachs Is Screwing Over Other Banks In The Coming GM IPO: http://www.prisonplanet.com/how-goldman-sachs-is-screwing-over-other-banks-in-the-coming-gm-ipo.html

[5] Financial Crisis Commission Threatens To Audit Goldman Sachs: http://www.prisonplanet.com/financial-crisis-commission-threatens-to-audit-goldman-sachs.html

[6] Conflict Of Interest? Report Says Goldman Sachs ‘Among Biggest Beneficiaries’ Of Paulson’s Bailout: http://www.prisonplanet.com/conflict-of-interest-report-says-goldman-sachs-%e2%80%98among-biggest-beneficiaries%e2%80%99-of-paulson%e2%80%99s-bailout.html

[7] Goldman Sachs concedes case for restraining the big banks: http://www.prisonplanet.com/goldman-sachs-concedes-case-for-restraining-the-big-banks.html

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