Winners and losers

You already know who the losers are; that would be you and me.

The winners?  For the (ongoing) AIG bail-out, we have an initial list of answers.

AIG Discloses Counterparties (Calculated Risk)

AIG Posts List of Beneficiaries of Government Largesse Counterparties (Naked Capitalism)

Collateral Postings Under AIGFP CDS (Alea)

Nothing terribly surprising.  Stunning, outrageous, and disgusting…  Yes.  But not surprising.

And just as an aside, Bank of America is a criminal enterprise.

Update

Goldman Still Needs to Explain Its AIG Exposure (Clusterstock)

Here’s what they were saying last September, via Reuters (9/22/08):

Lucas van Praag, a Goldman spokesman, on Sunday said the Times article was wrong to suggest that Goldman had reason to be concerned about AIG’s problems.

…

“For the avoidance of doubt, our exposure to AIG is offset by collateral and hedges and is not material to Goldman Sachs in any way,” he continued.

They made similar noises in just the last few weeks.

And now we learn officially last night that Goldman got almost $13 billion.

As a taxpayer, I cannot tell you how happy I am that my government handed over $13 billion that was “not material to Goldman Sachs in any way”.

See also LOLFed.