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Goldman's share of AIG bailout money draws fire

04/05/09 14:57

Around $90 billion of AIG's bailout funds were handed out to various US and European banks, among which Goldman Sachs Group Inc. got the largest piece of the pie, amounting to around $12.9 billion. This has drawn the fire of many critics due to suspicions of favoritism and conflicts of interests. Then-Treasury Secretary Henry Paulson previously worked as chief executive of the company.

Goldman has always said that it does not need the bailout funds because it was "always fully collateralized and hedged."

So why did it take the AIG funds, anyway?

Link: Goldman's share of AIG bailout money draws fire | Reuters

 

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