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You are here : World News – Russian opinion» WORLD» AIG has returned to taxpayers U.S. $ 2.15 billion received in the crisis

AIG has returned to taxpayers U.S. $ 2.15 billion received in the crisis

Posted By Russian Opinion. Under WORLD  Tags: Company  

"Finance Ministry on Thursday received an additional payment from AIG in the amount of $ 2.15 billion. Funds were received from the sale of AIG subsidiary Nan Shan life insurance and were used for the return of investment by U.S. taxpayers to AIG through foreclosure … share of the Ministry of Finance in another subsidiary company for AIG – AIA Aurora», – said in a press release from the Ministry of Finance. During the crisis, the U.S. government has allocated about AIG $ 180 billion of state aid. After payment of the current level gosvlozheny the company through the Ministry of Finance of 51 billion dollars. Total U.S. administration in 2008-2009, has allocated about $ 700 billion to support the economy in crisis, including 250 billion have been allocated directly to banks to maintain liquidity (of which 245 billion in fiscal year 2009). Implementation of the program TARP, according to Finance Ministry, brought profits to a few tens of billions of dollars in profit instead of 76 billion of losses, as banks return money received from the government with interest. By the president of the U.S. TARP program will run until October 2010 in order to stabilize the financial markets. Most banks have paid for the credits. AIG is one of the "heavy" government borrowers. Participation in the TARP insurance giant AIG was accompanied by numerous scandals. After the adoption of the 2008 Government decision to rescue companies in the media obtained documents that the top management of AIG, which has already been to the bottom and not bankrupt largely due to the received state support, paying themselves excessive bonuses. The second major scandal occurred in December 2009 when chief executive officer of AIG Robert Benmoshe said that U.S. taxpayers will have to wait at least two years before the company can return them to a state loan, resulting in a crisis. This unexpected announcement intrigued Congress, which found that the company has declared the taxpayers of the need to wait for the return of borrowed funds as quickly and fully paid off the debts with their business partners. Head of the Committee U.S. House of Representatives Oversight and PAR Democrat Edolfus Towns requested to examine all the information about payments made ​​to AIG partner companies, including major banks Goldman Sachs, Morgan Stanley, Barclays, Bank of America, Deutsche Bank and Societe Generale. Also, the congressman has asked the Federal Reserve Bank of New York all the information regarding the decision to support AIG, including the content of e-mails and transcripts of telephone conversations. At that time the head of the New York Fed was the current head of U.S. Treasury Secretary Timothy Geithner. "On stayutsya questions about the situation with the impossibility of AIG to pay off credit debt to partners and why these companies (partners AIG) received full compensation, while in case of bankruptcy of the insurer, at best, they could count on 30-40 cents on the dollar … The demand concerns all documents relating to the decision to pay 100 cents AIG partners for buck "- then said Townes.

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