The fingers are being pointed directly at Hank Paulson during the Bush administration and the Federal Reserve which would be Tim Geithner at that time and location. Taxpayers will never see their return on this and Goldman is still getting a free ride from the billions they had riding on that deal. Paulson was of course the former CEO of Goldman Sachs.
The federal government didn't exhaust all its options before it committed tens of billions of taxpayers' dollars to bail out the American International Group during the height of the 2008 financial collapse, according to a new report from a congressional watchdog panel.
The Congressional Oversight Panel , which was created to monitor the spending in the 2008 bank bailout bill known as the Troubled Asset Relief Program, or TARP, detailed in its latest monthly report the government's extraordinary rescue of AIG and its lingering effects on taxpayers and the financial markets.
AIG, once one of the largest and most successful insurance companies in the world, collapsed in 2008 when it couldn't meet the collateral demands of its customers. The firm, the oversight panel said, had an "insatiable appetite for risk" but a "blindness to its own liabilities."
