Bloomberg: AIG Bailout Offset Losses at Five Banks

“‘Banks can pay bonuses without eroding capital if they were funded from profitable trades that were settled through financing provided by the government to AIG,’ said Sylvain Raynes, a derivative consultant in New York and author of The Analysis of Structured Securities.”

Read the full article: “Treasury Preserves Bank Payday with AIG Rescue Cash,” by Mark Pittman and Christine Harper, Bloomberg, March 24, 2009.