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September 9, 2012
For sale: Most of the U.S. government’s bailout investment in AIG
- $18B being sold off by the U.S. government, which is more than half of the government’s overall stake in the firm and would downgrade them to a minority stake in the company
- 92% the amount of the U.S. government’s total $182 billion stake in AIG that has been divested since 2011; the government could soon score a profit on the deal source
23:45 // 2 years ago
November 3, 2011
October 11, 2011
AIG — yes, that AIG — wants to insure you if you have a major corporate public relations crisis. Clearly, this is a company that knows nothing about this. (via Percolate)
16:54 // 2 years ago
August 8, 2011
Defendants were engaged in a massive scheme to manipulate and deceive investors, like AIG, who had no alternative but to rely on the lies and omissions made.
A legal complaint filed by AIG • Revealing that the company, which still has a freaking massive taxpayer bill to pay off, plans to sue Bank of America for $10 billion dollars, claiming “massive fraud” on the mortgage debt AIG insured while the companies Countrywide and Merrill Lynch were still independent. (To put it simply, AIG feels that the companies lied about the quality of the debt, making them sound better than it was.) AIG is still working on paying back roughly $182.3 billion in bailouts, so the $10 billion would help. source (via • follow)
11:10 // 3 years ago
September 30, 2010
Bailout bonanza: AIG brokers a payback deal with the U.S.
- 92.1%taxpayers’ upcoming stake in AIG
- what The U.S. government will receive $62 billion in common shares of AIG stock to replace the $49 billion in preferred shares it currently has floating around.
- why Because, over time, the government will be able to sell these shares and hopefully make back some of the billions it paid AIG during bailout-o-rama. source
- » But wait, there’s more: AIG also plans to pay back $20 billion that it received from the Federal Reserve Bank of New York credit facility. An end result of all of this is that taxpayers will see an instant paper profit of $10 billion along with the long-term profits from the sale. Who wants to say “screw all those future generations” and grab a piece?
11:04 // 3 years ago