The New York Times is reporting US regulators are investigating whether the mortgage insurance market was improperly distressed in 2008 because of payment demands that Goldman Sachs and other banks made on AIG prior to the company’s collapse. The Times also reveals Goldman Sachs made more money off the taxpayer bailout of AIG than has been previously acknowledged. In addition to the nearly $13 billion of the AIG bailout that was directly funneled to Goldman, Goldman received a portion of the $11 billion that went to the French bank SocGen.
Regulators Probe Goldman Sachs Role in Collapse of AIG
HeadlineFeb 08, 2010