Thursday, Oct 29, 2009
Papering cracks with billion dollar bills. AIG is bust, let it go!
Bloomberg: AIG’s Federal Reserve Debt Surges to Five-Month High
American International Group Inc.’s draw on a Federal Reserve credit line surged for a fourth week to the highest since May after the insurer paid down a commercial paper facility and propped up its airplane unit. AIG, bailed out in September 2008 with a package that has ballooned to $182.3 billion, also tapped the Fed line for $2 billion this month to prop up its International Lease Finance Corp. unit after a bank loan facility expired, the plane leasing subsidiary said in a filing Oct. 19. Why, why WHY keep this charade going?
Posted by tyrellcorporation @ 11:00 PM (409 views) Add Comment
3 Comments
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1. crunchy said...
http://www.youtube.com/watch?v=Yy2_pLppuCw&feature=fvw
2. drewster said...
Why does AIG, an insurance company, have an airplane leasing division? Couldn't they have sold it to fill the hole in their balance sheet?
3. crunchy said...
http://www.nypost.com/p/news/business/aig_circling_back_on_aircraft_biz_RdAzMyh4xjyRZzXsKwckxM