Sunday, March 1, 2009

AIG To Receive More Aid

"CHARLOTTE, N.C. - Struggling insurer American International Group Inc. will receive up to $30 billion in additional federal assistance in the fourth government rescue of the company, a person familiar with the matter told The Associated Press on Sunday.

The new infusion is intended to prop up AIG — once the world's largest insurer — as it is expected to announce $60 billion in quarterly losses early Monday, the source said on the condition of anonymity because the discussions are still ongoing.

The company, which is considered too large to fail, previously received about $150 billion in loans from the government, which now has an 80 percent stake in the company." - MSNBC
Hate to say it, company is too large to fail.

No comments:

Post a Comment

Your comments are valued greatly. Please adhere to the decorum on the "First time here?" page. Comments that are in violation of any of the rules will be deleted without notice.

3/11 Update - No Moderation

*Non-anonymous commenting is preferred to avoid mix-ups. Anonymous comments are, at the behest of management, more likely to be deleted than non-anonymous comments.