Your Bailout Money In Action
(Economy • Government)
When Goldman Sachs wound up with an $8.1 billion taxpayer-funded gift after the George Bush Jr. treasury department’s massive AIG bailout, that pissed off a lot of people, me included.
But what happened to your money after Goldman got its hands on it?
Turns out that Goldman took the multibillion-dollar payoff from AIG and used it to pay off some owesies.
Most of them were foreign banks.
So while you’re trying to scrape together your next mortgage payment, or hoping in vain to land a small-business loan, you can at least feel warm and secure in the knowledge that the bailout money you provided went to a few good causes.
Including European financial institutions DZ Bank AG of Germany, Banco Santander SA of Spain, Rabobank Nederland NV, Zuercher Kantonalbank and Dexia Bank SA.
Kinda makes me tear up a little in pride over being an American taxpayer.
→ B.Dunn, Jul 24, 2010, 10 13 AM
