Hi there,

Immigration raids are spreading across the country. The agencies meant to protect public health are being dismantled from within. Public broadcasting is being defunded... Today, Democracy Now!'s independent reporting is more important than ever. Because we never accept corporate or government funding, we rely on viewers, listeners and readers like you to sustain our work. Can you start a monthly donation? Monthly donors represent more than 20 percent of our annual revenue. Every dollar makes a difference. Thank you so much.

Democracy Now!
Amy Goodman

Non-commercial news needs your support.

We rely on contributions from you, our viewers and listeners to do our work. If you visit us daily or weekly or even just once a month, now is a great time to make your monthly contribution.

Please do your part today.

Donate

AIG Questioned on Billions in Bank Payouts

HeadlineMar 27, 2009

The insurance giant AIG is facing new congressional and legal scrutiny over how it funneled tens of billions of dollars in taxpayer bailout money to banks facing huge losses that AIG had insured. In what some have called the “backdoor bailout,” AIG gave nearly $13 billion to Goldman Sachs and tens of billions more to other firms, including Bank of America, Merrill Lynch, JPMorgan Chase, Morgan Stanley and several foreign banks. On Thursday, twenty-six House Democrats signed a letter by Congress member Elijah Cummings asking the bailout program’s inspector general to investigate the payments. Meanwhile, New York State Attorney General Andrew Cuomo subpoenaed AIG for information related to the derivatives payments funneled to the banks.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top