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  1. #1 Feds to take 80 percent stake in AIG 
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    Looks like we are going to bail out AIG.

    Link: http://www.iht.com/articles/2008/09/...s/17insure.php
    Last edited by Lager; 09-16-2008 at 09:25 PM. Reason: add link
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  2. #2  
    And the beat goes on.............

    :(

    In other news, I just heard of TV that Barclays, a British Bank, is taking over Lehman Brothers. Since Lehman Brothers is in bankruptcy, they will only take over the good parts of Lehman, while leaving the rest (subprime loan bonds) in chapter 11.
    Licenced New York State EMT-B
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  3. #3  
    Senior Member OwlMBA's Avatar
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    Yup.

    The US govt is about to become the biggest Insurance company in the world. But, then again, after Katrina and Ike we kinda figured out they already are....

    So far this year the government has underwritten the biggest banks, investment banks, and now insurance companies.
    **** Obama and **** you too.
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  4. #4  
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    Actually, the Feds seem to be doing something right this time. The 80% is collatoral, held by the government as a guarantee for a 24 month loan at LIBOR+8.5%! AIG should have considered looking in Palermo for a better rate. :D
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  5. #5  
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    I couldn't believe they were getting Libor + 81/2 percent when I heard it on the news this morning. My husband said, "They might as well get a payday loan!"
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
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