But I got distracted by this. AIG spilled some of the beans. Here's where our money went when we funneled it through the faltering insurance giant:
A.I.G.'s Biggest Counterparties
So we gave money to AIG because evil antimatter zombie demons were going to eat our wallets otherwise. And then -- because they'd insured a lot of shit they couldn't afford to cover when the market for the shit turned to more shit -- AIG gave money to...
Banks in France, Germany, Denmark, Scotland, Canada, and possibly Pluto, which is beyond Uranus.
Isn't it swell that the Fed and AIG formed a company to deal with the tanking securities behind a buncha rotting credit default swaps? I especially like what they named it: Maiden Lane III.
Maiden! Get it?
Not yet fucked!