Mar. 16, 2009 (Baystreet.ca) --
Tom Reese/Paul Rubillo, Dividend.com
American International Group (AIG) just reported that it has paid out some large numbers to some of Wall Street's biggest investment firms.
The company said Goldman Sachs took in the largest amount of the payments, receiving $12.9 billion. Bank of America Corp. and Merrill Lynch together received $12 billion in payments, followed by Societe Generale , which got $11.9 billion and Deutsche Bank , which was handed $11.8 billion.
Monies paid to these firms were used to cover collateral payments, cancel derivative contracts and meet obligations at its securities lending business.
The Bottom Line
This report follows another that mentioned the company would be paying nearly $165 million in executive bonuses. The mess continues to unravel as the "follow the money" cup game that is going on just keeps getting more and more complex. Wondering how long until the next need for further capital may be announced.
American International Group (AIG) does not currently pay a dividend.
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