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So where has all that taxpayer cash that’s been shoveled into AIG gone?  Today they revealed their largest counterparties, and the top 5 — drum roll, please — are:

  • Goldman Sachs: $12.9 billion
  • Bank of America + Merrill Lynch: $12.0 billion
  • Société Générale: $11.9 billion
  • Deutsche Bank: $11.8 billion
  • Barclays: $8.5 billion

So it looks like everyone was right: Goldman did have enormous exposure to AIG and foreign banks did get massive dollops of aid from the bailout.  No wonder Lloyd Blankfein and Christine Lagarde took such a keen personal interest in AIG’s fortunes.

UPDATE: The AIG memo contains four appendices that list amounts paid out to various creditors.  I just added them up to get the numbers above, but Felix Salmon says that amounts to adding up apples and oranges.  The real action, he says, is solely in Appendix 2, which gives us a different top 5:

  • Société Générale: $6.9 billion
  • Goldman Sachs: $5.6 billion
  • Merrill Lynch: $3.1 billion
  • Deutsche Bank: $2.8 billion
  • UBS: $2.5 billion

There’s more to it than this, though.  Read Felix for more details on why further transparency is still needed.

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And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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