AIG closes deal for $30 billion in new federal funds

AIG closes deal for $30 billion in new federal funds

news.yahoo.com

NEW YORK (Reuters) – American International Group Inc (AIG.N), which has received more than $150 billion in taxpayer support since last September, has closed a deal to access nearly $30 billion in additional federal funds.

In a filing with the U.S. Securities and Exchange Commission on Monday, AIG said it would issue and sell to the U.S. Treasury 300,000 preferred shares, including warrants to purchase common stock, in exchange for up to $29.835 billion.

The original amount agreed in early March was $30 billion, but officials subtracted $165 million in retention bonuses paid to employees of the AIG Financial Products unit last month.

(visit the link for the full news article)

[edit on 20-4-2009 by baseball101]

When will it end? when is enough, enough?

here we go again ... at least they subtracted the $165 million that was paid out in bonuses right? ... haha ... i don't think this is necessary ... how close is the government going to get before it actually has a 100% stake in the company? ... i'm not surprised though by this ... if the financial crisis keeps up (which it most likely will) i'm sure this will not be the last of these types of stories we're like to read about ...

what are your thoughts?

news.yahoo.com
(visit the link for the full news article)

[edit on 20-4-2009 by baseball101]

HAHAHAHAAHAHAHAHAHA! THIS IS INSANE.

You're being robbed!!!! Still people here supporting Obama?

This is just disgusting.... And remember that a big portion of that money went to Goldman Sachs last time AIG received money...

This is just sick.

Well are we surprised? Really are we that surprised?

I certainly am now, we all knew once that one bailout was gone that they would be at the doors, foaming at the mouth for more free money from us fellow taxpayers.

You see, I said this a while back that the only real difference between Democrats and Republicans is that Republicans start wars and tell you about it. Democrats use wild spending and trade wars to ruin the country.

Same *snip, different day, bigger pile, smaller shovel.

Welcome to Obamamania!

~Keeper

No Taxation Without Representation!!!

No Taxation Without Representation!!!

No Taxation Without Representation!!!

No Taxation Without Representation!!!

No Taxation Without Representation!!!

This is what the tea parties were supposed to be about. This is disgusting and yes it is theft. These criminals should be put in jail.

Why is it that the Board of AIG looks like a Bilderberg line-up???
Was just reading some information in regards to this Monster.
I still find it amazing that they are continuing to be "bailed out".
Their connections and global operations are too large and appear to be incredibly
clandestine.
I fear that this is beyond comprehension.

When does it stop????

Peace...

I am just to the point where everything I read about this has me just....numb...I can't stop laughing everytime another report comes out. I think I need some serious anti-psychotics now...better YET where are my LEGO's?

[edit on 20-4-2009 by djvexd]

[edit on 20-4-2009 by djvexd]

reply to post by Vitchilo


we are being robbed, and i'm surprised i haven't really seen too much on this ... hmmm ....

reply to post by djvexd


you may want to go see a psychologist, or a counselor ... if you weren't being sarcastic.

The folks running AIG are either blatantly stupid to the bone or the smartest folks around.

Despite all the doom and gloom rhetoric that fomented prior to the bailouts, the bailouts never should have been approved. The precedence set by the bailouts opens the door to everyone, opps, but the American people who are providing said 'bailouts'. Ironic, huh, especially when there are those who still espouse that 95% of American will not see their taxes increase by 1 cent? Hello!? Who is going to inevitably pay for this crap? You, me, and the average American taxpayer. Trickle down taxation and stealth taxation ftw. Surprising, so many think otherwise.

Originally posted by Seekerof
Despite all the doom and gloom rhetoric that fomented prior to the bailouts, the bailouts never should have been approved. The precedence set by the bailouts opens the door to everyone, opps, but the American people who are providing said 'bailouts'. Ironic, huh, especially when there are those who still espouse that 95% of American will not see their taxes increase by 1 cent? Hello!? Who is going to inevitably pay for this crap? You, me, and the average American taxpayer. Trickle down taxation and stealth taxation ftw. Surprising, so many think otherwise.

Very funny to see this coming from someone who used to accuse me of telling BS when I said the US economy would go down, two years ago... Although I would consider you as a respected foe, it's good to see you back. I thought you disappeared from earth

Ontopic: They are going to make the Dollar collapse... Some time ago they stopped publishing M3 money supply data and the amounts of Dollars created out of thin air is incredible. Undoubtedly, this is going to lead to hyper-inflation. Surely, the Chinese will be hurt greatly by this, but in the long-term America could benefit from it.


[edit on 24-4-2009 by Mdv2]