AIG - Next 24 hours crucial

[Rathmines_Corkonian]

AIG are looking for 40 billion Euro, as a short term loan.

"Confidence in AIG dropped amid news that it had approached the US Federal Reserve for an unprecedented £32bn short-term loan.It is now reported that the Fed has asked investment banks JPMorgan Chase and Goldman Sachs to explore arranging about £40bn in loans to support the insurer." From Sky News

This could be the first trillion dollar bankruptcy, The funding is required to keep it afloat after being hit with credit rating agencies downgrades. The govt. surely will have to add this to its growing collection of financial giants. Bernake/Paulson I just heard are discussing a rescue plan with congressional leaders. Tomorrow could be a bloody day on wall st.

[seabhcan]

AIG are looking for 40 billion Euro, as a short term loan.

Let me just get my cheque book...

[Rathmines_Corkonian]

AIG are looking for 40 billion Euro, as a short term loan.

Let me just get my cheque book...

Sound, nice folk just a bit down on their look.

[politicsisrotten]

AIG insures more than one-third of the Forbes 400 richest Americans, according to its annual report. Its aircraft leasing unit boasts a fleet of 900 jets. It ranks as the world's seventh-largest asset manager. It is even the main sponsor of British soccer club Manchester United.

Looks like they are gonna dump this on the Fed too...The taxpayer taking up the bill yet again

The price tag to steady AIG would likely run into the tens of billions, perhaps as much as $100 billion.

http://www.reuters.com/article/newsO...BrandChannel=0

[DrKildamore]

AIG Has been saved by the US Government who have taken a 80% Share in AIG and now are the largest shareholder.

The US Federal Reserve struck a deal with AIG Early this morning and agreed to a bridging loan of 85 Billion dollars in exchange for 80% of the company.

The US Government felt that AIG was too Large a company to be allowed to go into bankruptcy.

Hopefully this should now see a massive rally on the stock markets this morning.

[Aggressor]

Oh wonderful. All the Man Utd fans won't have to go buy new shirts, poor little things.

[jmcc]

NY Times reporting that the Fed loaned AIG $85 Billion.
http://www.nytimes.com/2008/09/17/busin ... ref=slogin
Regards...jmcc

[Rathmines_Corkonian]

AIG Has been saved by the US Government who have taken a 80% Share in AIG and now are the largest shareholder.

The US Federal Reserve struck a deal with AIG Early this morning and agreed to a bridging loan of 85 Billion dollars in exchange for 80% of the company.

The US Government felt that AIG was too Large a company to be allowed to go into bankruptcy.

Hopefully this should now see a massive rally on the stock markets this morning.

I think that it will but it will be short lived, there are so many more banks to come yet

[Irish Liberty Forum]

US really is more communist than China... I wonder who they are going to nationalise next.

[Kevin Doyle]

US really is more communist than China... I wonder who they are going to nationalise next.

Bushes so called conservatism, maybe 4 more years of these clowns will be a good thing. It will completely destroy neo-liberalism and regulate it to the dustbin of failed wingnut financial theory and ideology.

Boston or Berlin... Suddenly it becomes a bit of a no-brainer