AIG // Current TV

Ron Paul Addresses Financial Crisis

Ron Paul understands the situation. Does McBama?

Libertas
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3 years ago
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6 comments

ABC Calls Out McCain On His Financial Flip Flops

Dude, you’re losing ABC…that’s like FOX-lite. That’s not... more

TheRealEdwin
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3 years ago
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0 comments

Pelosi leads Democrats' assault on AIG rescue - Decision '08- msnbc.com

House Speaker Nancy Pelosi Wednesday evening unleashed a stinging attack on the... more

starr111
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3 years ago
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1 comment

Campaign Update 09/18/08

Voter fraud/suppression arguments, Ralph Nader's strategy, and John McCain and... more

Brett_Erlich
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3 years ago
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17 comments

Don't you think that America should listen to Ron Paul? - Half a trillion bailout… At least

A series of bailouts by the federal government will cost American tax-payers about a... more

unitedliberty
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3 years ago
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7 comments

White House defends AIG takeover

Corporate welfare good..welfare for poor people to eat bad

caseygane
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3 years ago
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9 comments

Feds Bail Out AIG for 85 Billion Dollars

Okay our tax money well spent on more corporate welfare, that's like a 2 months... more

caseygane
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3 years ago
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6 comments

Feds Bail Out AIG

The U.S. government stepped in Tuesday to rescue American International Group Inc.,... more

ebindelglass
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3 years ago
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0 comments

FED'S Decision to Hold Rates

Stocks rallied Tuesday as investors focused on the positive implications for the... more

starr111
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3 years ago
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1 comment

Fed in AIG rescue - $85B loan - Sep. 16, 2008

Fearing a financial crisis worldwide, the Federal Reserve reversed course on Tuesday... more

starr111
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3 years ago
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2 comments

Fed Bail-out Again?

In an extraordinary turn, the Federal Reserve was close to a deal Tuesday night to... more

pissedoffinarkansas
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3 years ago
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72 comments

Government announces $85 billion loan to save AIG

The Federal Reserve said Tuesday night it would lend up to $85 billion to flailing... more

ivxx
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3 years ago
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0 comments

Fed Reserve bails out AIG with 85 Billion Loan

NEW YORK (CNNMoney.com) -- In a stunning turn, the Federal Reserve Board is taking... more

korourke
added this
3 years ago
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2 comments

Stocks fluctuate as investors mull future of AIG

NEW YORK (AP) -- Stocks fluctuated Tuesday following a report that the government is... more

ivxx
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3 years ago
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0 comments

Wall Street Braces Ahead of Tuesday Open

U.S. stocks headed for a mixed open Tuesday, a day after Wall Street's worst day... more

ebindelglass
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3 years ago
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1 comment

AIG Struggles for Survival After Credit Rating Downgraded

American International Group Inc., the world's largest insurer, was hit by a wave... more

ebindelglass
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3 years ago
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0 comments

AIG in focus as financial meltdown spreads

HONG KONG (Reuters) - American International Group Inc, thrown a $20 billion lifeline... more

ivxx
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3 years ago
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0 comments

The Rush Is On to Prevent A.I.G. From Failing Too

The American International Group, the insurance company, is planning a major reorganization and a sale of its aircraft leasing business and other units to stabilize its finances, a person briefed on the company’s strategy said on Sunday.

A.I.G. became one of the focuses at an emergency gathering of Wall Street executives over the weekend, and was trying to arrange a capital infusion in the face of possible credit downgrades.

It was unclear whether A.I.G. would succeed in its capital search, but a person briefed on the discussions said it was seeking more than $40 billion even as it tried to sell assets to shore up its financial footing. Among the businesses likely to be sold is A.I.G.’s aircraft leasing business, the International Lease Finance Corporation. Founded in 1973, the business has nearly 1,000 planes in its fleet.

Investors, afraid that A.I.G. would have to absorb further write-downs in its already damaged mortgage securities and collateralized debt obligations, have driven down the company’s shares in recent days. The stock closed Friday at $12.14 a share, a decline of 46 percent for the week.

Several private equity firms were at A.I.G.’s headquarters in downtown Manhattan on Sunday, and may inject billions of dollars in capital into the firm, a person briefed on the matter said.

A.I.G.’s problems are not new. The company lost $13.2 billion in the first six months of 2008, largely owing to declining values in mortgage-related securities held in its investment portfolio and collateralized debt obligations it owns.

But the company’s outlook grew grimmer last week when Standard & Poor’s warned that it was considering downgrading the company’s debt as a result of further write-downs it might have to take.

As the credit storm has raged in recent months, insurance companies like A.I.G. have been better positioned than the nation’s banks and brokerage firms to weather it because accounting rules do not require insurers to mark the investments held in their long-term portfolios to market. Insurance companies like A.I.G. can hold their investments until they mature, riding out the ups and downs in the market for those assets.
The American International Group, the insurance company, is planning a major... more

ivxx
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3 years ago
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