In AIG flap, it's not just about bonuses anymore - Los Angeles Times

In AIG flap, it's not just about bonuses anymore - Los Angeles Times | By Tom Hamburger and Janet Hook
March 19, 2009
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Among other issues, critics are asking why AIG was allowed to use federal bailout money to repay $13 billion in debt obligations to Wall Street powerhouse Goldman Sachs, as well as debts to foreign banks.
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Goldman Sachs became the subject of controversy this week when AIG revealed that it had given the company $13 billion in taxpayer bailout money to repay its collateralized debt obligations.

One of the largest amounts -- $11 billion -- went to the Societe Generale Group, a Paris banking and financial services company. The funds paid to those firms were released to make whole the buyers of AIG credit insurance. ...