Fed grants AIG (another) $37.8 billion loan

[w¡n9Nµ7 §£@¥€r 123]

CHARLOTTE, N.C. - The Federal Reserve on Wednesday agreed to provide insurance giant American International Group Inc. with a loan of up to $37.8 billion, on top of one made to the troubled company last month.

Under the new program, the Federal Reserve Bank of New York will borrow up to $37.8 billion in investment-grade, fixed income securities from AIG in return for cash collateral. These securities were previously lent by AIG's insurance company subsidiaries to third parties.

The arrangement will help AIG secure funds on an as-needed basis, the New York-based insurer said in a statement.

http://news.yahoo.com/s/ap/20081008/ap_on_bi_ge/fed_aig

[Mr. Big Dog 10,747]

Great, the AIG executive are due for another $400,000 resort retreat. Wouldn't want to miss out on them SPA treatments on taxpayers expense.

[w¡n9Nµ7 §£@¥€r 123]

Great, the AIG executive are due for another $400,000 resort retreat. Wouldn't want to miss out on them SPA treatments on taxpayers expense.

Maybe they thought this was Europe

[Heracles 417]

Great, the AIG executive are due for another $400,000 resort retreat. Wouldn't want to miss out on them SPA treatments on taxpayers expense.

Maybe they thought this was Europe

If this was Europe they would be enjoying a relaxing rub down in prison..

[Ana&D 0]

Great, the AIG executive are due for another $400,000 resort retreat. Wouldn't want to miss out on them SPA treatments on taxpayers expense.

Maybe they thought this was Europe

If this was Europe they would be enjoying a relaxing rub down in prison..

Things like that are possible only in corporate America