A survey showed the AIG name as one of the most hated brands. Marketing was one of most disliked words, as AIG tried to put a positive spin on parties, bonuses, bailouts and losses. The U.S. Government bailout of AIG angered many. What is HSBC’s relationship to AIG? How much did HSBC receive from AIG?

HSBC received $3.5 Billion (USD) from AIG

Take a look at this informative article in Business Week. HSBC USA is an AIG counterparty.

While HSBC did not take any bailout money AIG certainly did. Through insurance and reinsurance deals with AIG, HSBC USA profited nicely from the bailout of AIG. Another $3.5 Billion write off for HSBC would have hurt had AIG not received bailout help.

This is our money used for bailouts. I don’t think the taxpayer should pay it. There is no reason these counterparties can’t take a loss for putting money with the idiots at AIG. Why not go after the bonuses of the executives who OKed these idiotic contracts earlier this decade?

Related posts:

1. HSBC wanted free easy money, might owe Madoff investors instead
2. HSBC makes $6 billion from its own debt – sort of
3. Is HSBC’s bailout refusal hiding their balance sheets from others?
4. Is HSBC hardship program tied to bailout?
5. Why HSBC does not want a bailout