NEW YORK, March 15 (Reuters) - AIG disclosed on Sunday that European banks including Deutsche Bank and France's Societe Generale were among the biggest beneficiaries of the taxpayer bailout of the insurer.
Sunday's disclosure that more than $90 billion has been paid to various banks -- including Goldman Sachs, Merrill Lynch and Bank of America -- since AIG nearly went bankrupt last September could stoke further public outrage about a bailout which already has many politicians up in arms.
European banks that received funds from AIG since its bailout include Royal Bank of Scotland, UBS, Societe Generale, BNP Paribas, Banco Santander , Danske, Rabobank, and Calyon, part of Credit Agricole.
The U.S. government, which is spending up to $180 billion on the AIG rescue, extended aid to the insurer after large losses from a financial product unit's bets on toxic mortgage assets that triggered rating cuts and collateral demands that AIG could not meet. Keywords: FINANCIAL AIG/COUNTERPARTIES
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Sunday's disclosure that more than $90 billion has been paid to various banks -- including Goldman Sachs, Merrill Lynch and Bank of America -- since AIG nearly went bankrupt last September could stoke further public outrage about a bailout which already has many politicians up in arms.
European banks that received funds from AIG since its bailout include Royal Bank of Scotland, UBS, Societe Generale, BNP Paribas, Banco Santander , Danske, Rabobank, and Calyon, part of Credit Agricole.
The U.S. government, which is spending up to $180 billion on the AIG rescue, extended aid to the insurer after large losses from a financial product unit's bets on toxic mortgage assets that triggered rating cuts and collateral demands that AIG could not meet. Keywords: FINANCIAL AIG/COUNTERPARTIES
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.