Who: American International Group, the insurer whose credit-default swaps tied it to most big banks. What: An $85B Federal Reserve credit line, two Fed vehicles (Maiden Lane II and III) that bought AIG-related securities, and $67.8B of Treasury capital from TARP.
$182B
committed or authorized
n/a
paid out (not reported as one figure)
n/a
recovered (repayments, dividends, fees)
$22.7B
net profit (cash, Fed + Treasury combined)
Outcome
Exited December 2012. The Fed and Treasury together made a combined profit of about $22.7B. Treasury's TARP shares alone lost $15.2B, more than offset by other Treasury AIG shares and Fed gains.
Oct 2008▲ Oversight addedCongress creates a special inspector general for TARP (SIGTARP) and a Congressional Oversight Panel in the bailout law itself. Source
2024▲ Oversight addedTARP's inspector general closes on schedule after 474 prosecutions, 326 prison sentences (75 of them bankers), and more than $11.4B recovered. Source
Worth knowing
Much of the money passed through AIG to its trading partners: Maiden Lane III paid off AIG's credit-default-swap counterparties (including Goldman Sachs, Société Générale, and Deutsche Bank) at full value.