American Insurance Group

Economy

Congrats: You Now Own AIG Insurance! Socialized Business Comes To America, Comrades

by Charles Feldman | September 17, 2008

Who would have thought that a relatively small number of people who couldn’t pay their sub-prime mortages would bring about the end of the American economy as we knew it? The latest development is an extraordinary one. As CNNMoney.com put it: “In an unprecedented move, the Federal Reserve Board is lending as much as $85 [...]

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Credit

BREAKING: Fed Rescues AIG with $85 Billion Loan (bailout) for 80% Ownership Stake

by Joshua Dorkin | September 16, 2008

The snowball that is the US and Global Financial Crisis continued to get larger Tuesday as American International Group (AIG), the nation’s largest insurer came close to collapse. Over the weekend, the Fed failed to provide a $40 Billion bridge loan that the company’s leadership had been pressing for, but late Monday night, the Fed [...]

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