Fed Grants AIG Another Big Loan: This One For $37.8 Billion
10-08-2008, 03:22 PM
#1
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Fed Grants AIG Another Big Loan: This One For $37.8 Billion
Fed Grants AIG Additional $37.8 Billion Loan
The Federal Reserve has agreed to provide insurance giant American International Group with a loan of up to $37.8 billion, on top of one made to the troubled company last month.
Under the new program, the Federal Reserve Bank of New York will borrow up to $37.8 billion in investment-grade, fixed income securities from AIG in return for cash collateral. These securities were previously lent by AIG's insurance company subsidiaries to third parties.
Last month, the Fed provided an $85 billion loan to the company, which was on the brink of bankruptcy
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When are they going to let these people fail................... They cant now they have too much invested to stop now...
Vote with your wallets people.
The Federal Reserve has agreed to provide insurance giant American International Group with a loan of up to $37.8 billion, on top of one made to the troubled company last month.
Under the new program, the Federal Reserve Bank of New York will borrow up to $37.8 billion in investment-grade, fixed income securities from AIG in return for cash collateral. These securities were previously lent by AIG's insurance company subsidiaries to third parties.
Last month, the Fed provided an $85 billion loan to the company, which was on the brink of bankruptcy
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When are they going to let these people fail................... They cant now they have too much invested to stop now...
Vote with your wallets people.
10-08-2008, 03:27 PM
#4
I can't wait for some more nuts to try and argue how this guy earned the money and deserved it.
10-08-2008, 04:16 PM
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AIG's guys spent nearly a half- mil on a wing-ding in LA after their last 85 billion dollar "emergency" loan, I wonder how they plan to celebrate this time?
Last edited by psoper; 10-09-2008 at 07:51 AM.
10-09-2008, 07:51 AM
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looks like its "training" at the Ritz Carleton here in Half Moon Bay;
http://www.bloomberg.com/apps/news?p...fSQ&refer=home
http://www.bloomberg.com/apps/news?p...fSQ&refer=home
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