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 (796 views)
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1. crunchy said...

Friday, October 30, 2009 12:24AM Report Comment

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?

Friday, October 30, 2009 12:55AM Report Comment

3. crunchy said...

Friday, October 30, 2009 01:11AM Report Comment

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