OFFICIAL: US government rescues insurer AIG

[Omen]

The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy.

The plan involves a loan in return for an 80% public stake in the company.

The board of the Federal Reserve made the decision "with the full support of the Treasury Department", it said in a statement, adding that the secured loan included conditions designed to protect "the interests of the US government and taxpayers".

 

[Rugger]

did you forget about the other thread you created? :icon_lol:

 

[Omen]

Nah....this is OFFICIAL though, the other was "thoughts"........

:hammer:

 

[Delta Force]

the good think here is this is not a bail out... its a bridge loan which entitles AIG to sell offs assets to repay the loan or the government will take over

from the looks of this tax payers will not be in the hook for AIG like we did for bear