Where did the AIG money really go?
You might be surprised. A lot went right back into many US states, some to insure government projects, some to pay out defaulted FHA mortgages, like California who has the highest mortgage default rate on government loans. But Congress already knew that.
They’ve had the AIG plan since September of 2008, but they like to pretend they have no idea what AIG’s been doing. Some members, those on the Financial Services Subcommittee, were reminded of that plan again on March 18th, 2009 at their hearing with Mr. Liddy. They still feigned ignorance. But you can just read the presentation for yourself; it’s actually quite enlightening.
Read my full post & view the presentation: https://flutemandy.wordpress.com/research/do-you-want-to-know-where-the-money-to-aig-is-going-everyone-already-has-access-to-that-answer/