17 March 2009

This Isn't Going to Help

SO LET'S SEE, AIG has received some $160 billion in aid from the US (partly taxpayer money) and so far the largest recipient of the bailout money from AIG? A French bank! Not that the bank is to blame for wanting to be paid, but I just wonder how American taxpayers are going to feel about paying-off debts to French banks. And it's not just France, of the top 10 recipients, 6 are European banks. Here's a look at some on the list, along with some stagaring amounts:
  • Societe Generale: $4.1 billion
  • Deutsche Bank: $2.6 billion
  • Goldman Sachs: $2.5 billion
  • Merrill Lynch: $1.8 billion
  • Barclays: $0.9 billion
  • UBS: $0.8 billion
  • Rabobank: $0.5 billion

Some Americans are going to see this as US taxpayers bailing out European banks. That's not what it is at all, but some will think it is -- and they won't like it.


No comments :