UPDATED 3/16/2009:
The Financial Times reports AIG just announced that they have posted a list of their CDS counterparties (pdf). It's also available on the AIG website(pdf).
If my calcs are correct, here's the breakdown of where money went by region/country:
US - financial institutions: $31.5bn
US - state/municipal governments: $12.1bn
Eurozone: $37.9bn
UK: $12.7bn
Switzerland: $5.4bn
Canada: $1.1bn
Poland: $0.3bn
Not labeled: $4.1bn
Total: $105.3bn
I'm tired - I'll have to revisit these calculations later.
But this means that nearly 55% of the funds left the country.
Amazing. I thought the Eurozone banks were doing worse than our banks. They may still be, but this will definitely boost their capital.
Also courtesy of the FT; in a letter to the Treasury, CEO Liddy says that AIG targets a 30% reduction in 2009 bonuses by making use of "creative restructuring solutions". Additionally, he will propose further changes to the 2008 bonuses for Senior Partners. He cautions about a departure of top talent.
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