THE US$173bil government rescue of American International Group Inc (AIG) is stoking resentment among investors who see it as a backdoor taxpayer bailout of Goldman Sachs Group Inc and other banks.
Six months after the US government stepped in to save an insurance giant overwhelmed by derivative losses, AIG continues to bleed red ink. Its stock and bond holders have been crushed, but one group has suffered almost no damage: banks that bought credit protection from AIG Financial Products.
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