March 16, 2009

AIG Shocking News Continues

The American International Group on Sunday released the names of financial institutions that benefited last fall when the Federal Reserve saved it from collapse with an $85 billion rescue loan and then 3 subsequent bailouts.

The disclosure included counterparties to both its credit default swap operations and its securities lending businesses, both of which contributed heavily to A.I.G.’s troubles, as well as to muncipalities who participated in certain investment programs. All told, Sunday’s statement detailed payments of more than $94 billion, excluding payments to municipalities. All were made using government loans.

I found the news above from DealBook section of The New York Times. AIG is still not yet done in giving the whole world shocking news such as this. But you knew what made this post more interesting? Well, it's the fearless reaction from different commentors. No wonder the post received 133 responses. Check it out guys!

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