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CRISIS AND PANIC 

Payments to AIG Counterparties

Payments to AIG Securities Payments to AIG Credit Default
Lending Counterparties Swap Counterparties

IN BILLIONS OF DOLLARS IN BILLIONS OF DOLLARS
Sept. 18 to Dec. 12, 2008 As of Nov. 17, 2008
Maiden Collateral
Lane III payments
Barclays $7.0 payment from AIG
Deutsche Bank 6.4 Société Générale $6.9 $9.6
BNP Paribas 4.9 Goldman Sachs 5.6 8.4
Goldman Sachs 4.8 Merrill Lynch 3.1 3.1
Bank of America 4.5 Deutsche Bank 2.8 5.7
HSBC 3.3 UBS 2.5 1.3
Citigroup 2.3 Calyon 1.2 3.1
Dresdner Kleinwort 2.2 Deutsche Zentral-Genossenschaftsbank 1.0 0.8
Merrill Lynch 1.9 Bank of Montreal 0.9 0.5
UBS 1.7 Wachovia 0.8 0.2
ING 1.5 Barclays 0.6 0.9
Morgan Stanley 1.0 Bank of America 0.5 0.3
Société Générale 0.9 Royal Bank of Scotland 0.5 0.6
AIG International 0.6 Dresdner Bank AG 0.4 0.0
Credit Suisse 0.4 Rabobank 0.3 0.3
Paloma Securities 0.2 Landesbank Baden-Wuerttemberg 0.1 0.0
Citadel 0.2 HSBC Bank USA 0.0 0.2
TOTAL $43.7 TOTAL $27.1 $35.0
NOTE: Amounts may not add due to rounding.
Of this total, $19.5 billion came
from Maiden Lane II, $17.2 SOURCE: Special Inspector General for TARP
billion came from the Federal
Reserve Bank of New York, and
$7 billion came from AIG.

Figure .

time AIG was rescued.  In an FCIC hearing, Goldman CFO David Viniar said that
those counterparties had posted collateral. 
Goldman also argued that the  billion of CDS protection that it purchased
from AIG was part of Goldman’s “matched book,” meaning that Goldman sold 
billion in offsetting protection to its own clients; it provided information to the FCIC
indicating that the  billion received from Maiden Lane III was entirely paid to its
clients.  Without the federal assistance, Goldman would have had to find the 
billion some other way.