Government Trying to Arrange Financing for AIG

Government Trying to Arrange Financing for AIG

www.cnbc.com

The federal government has asked investment banks Goldman Sachs and JPMorgan Chase to lead a $70 billion to $75 billion lending facility to help struggling insurer American International Group, CNBC has learned.

(visit the link for the full news article)


Related News Links:
news.bbc.co.uk
news.sky.com

Related AboveTopSecret.com Discussion Threads:
Lehman Brothers Close To Collapse - US Chapter 11 insolvency procedures starting

**I thought I'd make a seperate thread on AIG from my epic on Lehman Brothers**

Earlier, an official from AIG said the organisation has to Wednesday to arrange financing for the business.

www.cnbc.com
(visit the link for the full news article)

When you stop to think about the consolidation of wealth that is occurring, it makes sense that it is going to Morgan and Sachs, doesn't it?

reply to post by Maxmars


Yeah, but AIG had 50% wiped off its share value. Short selling might end up creating the same conclusions of that which effected Lehman Brothers

I was wondering if someone had started one about AIG, there's a few around.

It seems to be the dark horse of these conglomerates.

AIG Falls After Failing to Give Plan to Save Rating

AIG, seeking to raise $20 billion in capital and sell $20 billion of assets, rejected investments from buyout firms KKR & Co., TPG Inc. and J.C. Flowers & Co., people familiar with the talks said. AIG instead sought $40 billion from the Federal Reserve, the New York Times reported, citing an unnamed person.

www.bloomberg.com...

So now it's leeching off the Federal Reserve...

We'll find out later today the state of AIG.

IF it did fail I'd expect AIG to be nationalised or a massive firesale on its assets (AIG has significant profitable assets)

Well here's another-

AIG's Long-Term Debt Ratings Cut by S&P, Moody's

Sept. 16 (Bloomberg) -- American International Group Inc.'s long-term counterparty rating was cut three levels to A- from AA- by Standard & Poor's, and its senior unsecured debt rating was downgraded by Moody's Investors Service to A2 from Aa3.

www.bloomberg.com...

AIG's future just became a lot more cloudy.

Markets haven't even hit 2 year lows yet.
And people want to scream depression, collapse, the end of the world is nigh!
So some company's go bankrupt some stocks fall.
This happens all the time.Been happening since we traded gold and shells and feathers even before paper money.
So some of these company's are larger than usual.
They will just start other ones and make money out of thin air like they always do.
What people fail to understand is this.
You cant get any worse than the great depression.
It cant get ANY worse than that.
And we survived that.
What people really should be thinking about is, with all the credit defaults, all the homeless family's that now have nowhere to live.
Forget about the fat cat CEO's and there company's who the people couldnt pay.
Think about the kids with no FOOD.

EDIT... nevermind, deleted

[edit on 16-9-2008 by Alphard]

I guess I am very fortunate. I pulled all of my 401K from AIM and rolled over elsewhere.

reply to post by Mammoth


New York Fed is going to provide financial support to AIG. A deal is reckoned to be announced later on today - a coalition is believed to be creating a rescue package.

and what about the next one or the one after that or the one after.....


its going to carry on so will they just print more money to `save` the elites?

CNBC:

Private sector deal is dead. Government now holding discussion with AIG, New York Fed meeting is discussing its future.

AIG could file bankruptcy as early as tomorrow or Thursday, if government do not bail out AIG.