Originally posted by Bunk
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Bob Diamond and the Treasury Select Committee
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Hmmm. Wonder what my bonus will be this year. Should have recovered somewhat from the piss poor £50K of last year.Hard Brexit now!
#prayfornodealComment
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Originally posted by scooterscot View PostHold the phone. AIG bail out was not exchanged for shares like UK banks, it was just given free money by the US.
If anyone should be getting angry, it's the taxpayers, with the govt, for carrying out the bailout in such a way that the taxpayer got nothing in return.
The govt feigning anger at the banks is just a diversionary tactic."A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester FreamonComment
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"Barclays is one of the single largest beneficiaries of the US government's bailout of AIG, it emerged today. It received about £6 billion, or the equivalent of the whole of the British bank's profits for last year."
"Of those, Goldman Sachs, whose former executive Hank Paulson was Treasury Secretary at the time of the bailout, was the single largest recipient of funds from AIG with $12.9 billion.
But, to the consternation of many American politicians, much of the money has crossed the Atlantic to settle AIG's bad bets with European banks.
Deutsche Bank and Société Société Générale were the largest recipients with $12 billion each while Barclays received $8.5 billion."
Source: Barclays got £6bn of insurer's bailout cash | BusinessComment
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Originally posted by AtW View Post"Barclays is one of the single largest beneficiaries of the US government's bailout of AIG, it emerged today. It received about £6 billion, or the equivalent of the whole of the British bank's profits for last year."
"Of those, Goldman Sachs, whose former executive Hank Paulson was Treasury Secretary at the time of the bailout, was the single largest recipient of funds from AIG with $12.9 billion.
But, to the consternation of many American politicians, much of the money has crossed the Atlantic to settle AIG's bad bets with European banks.
Deutsche Bank and Société Société Générale were the largest recipients with $12 billion each while Barclays received $8.5 billion."
Source: Barclays got £6bn of insurer's bailout cash | Business
Barclays will have paid to insure those assets down the years. AIG should have been in a position to honour its liabilities.Guy Fawkes - "The last man to enter Parliament with honourable intentions."Comment
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Originally posted by Alf W View PostAIG should have been in a position to honour its liabilities.
The only thing I don't get is how US Govt did not refuse to honour any non-US banks obligations, ie Barclays - they should have put AIG through bankrupcy procedure and selectively buy out at discounted prices all obligations - much higher discount for foreign banks.Comment
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Originally posted by AtW View PostBut, to the consternation of many American politicians, much of the money has crossed the Atlantic to settle AIG's bad bets with European banks."A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester FreamonComment
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Originally posted by Freamon View PostIronically, the branch of AIG that sold most of these swaps (AIGFP) was based in London at 1 Curzon St.Comment
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Originally posted by AtW View PostA Curzon on both of their houses thenMy all-time favourite Dilbert cartoon, this is: BTW, a Dumpster is a brand of skip, I think.Comment
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