The AIG bailout is the best example. We've poured $175billion down the gaping maw that is AIG, with no idea where it's going, just vague reassurances it's necessary or the entire financial system will collapse. Well, now we have an idea where it's going:
The Wall Street Journal reported on Friday that about $50 billion of more than $173 billion that the U.S. government has poured into American International Group Inc (AIG.N) since last fall has been paid to at least two dozen U.S. and foreign financial institutions.
The newspaper reported that some of the banks paid by AIG since the insurer started getting taxpayer funds were: Goldman Sachs Group Inc (GS.N), Deutsche Bank AG (DBKGn.DE), Merrill Lynch, Societe Generale (SOGN.PA), Calyon, Barclays Plc (BARC.L), Rabobank, Danske (DANSKE.CO), HSBC (HSBA.L), Royal Bank of Scotland (RBS.L), Banco Santander (SAN.MC), Morgan Stanley (MS.N), Wachovia, Bank of America (BAC.N), and Lloyds Banking Group (LLOY.L).





