NU Online News Service, Aug. 12, 3:35 p.m. EDT

The U.S. bore all the risk for its rescue of American International Group under the Troubled Asset Relief Program (TARP), but the program largely benefitted overseas institutions, a new Congressional Oversight Panel (COP) report said.

The COP report on international effects of the Temporary Asset Relief Program (TARP) stated, “Banks in France and Germany were among the greatest beneficiaries of AIG’s rescue, yet the U.S. government bore the entire $70 billion risk of the AIG capital injection program.”

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