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http://bigpicture.typepad.com/comments/2008/11/aig-w
e-need-mor.html
AIG: We Need More Money
Sunday, November 09, 2008 | 08:30 AM
in Bailouts | Corporate Management | Derivatives | Federal Reserve
And so, more errors of these emergency bailouts begins: Once committed
to the initial $85 billion dollars, what choice does nation have but
to throw good money after bad.
Down the rathole:
AIG is asking the US government for a new bail-out less than two
months after the Federal Reserve came to the rescue of the stricken
insurer with an $85bn loan, according to people close to the
situation.
AIG's executives were on Friday night locked in negotiations with
the authorities over a plan that could involve a debt-for-equity swap
and the government's purchase of troubled mortgage-backed securities
from the insurer.
People close to the talks said the discussions were on-going and
might still collapse, but added that AIG was pressing for a decision
before it reports third-quarter results on Monday.
AIG's board is due to meet on Sunday to approve the results and
discuss any new government plan, they added.
The moves come amid growing fears AIG might soon use up the $85bn
cash infusion it received from the Fed in September, as well as an
additional $37.5bn loan aimed at stemming a cash drain from the
insurer's securities lending unit.
AIG has drawn down more than $81bn of the combined $122.5bn
facility. The company's efforts to begin repaying it before the 2010
deadline have been hampered by its difficulties in selling assets amid
the global financial turmoil.
Un-frickin-believable . . .
They are taking advantage of the $700 B to buy ailing mortgage back
securities. This $700B came after the 85M buyout of stock by the US
government. Two different things. I think they should buy back the 85 M in
stock since selling the MB securities seems a better way out.
So hardly a new Bailout.
You are as bad as the Bush admin at telling untruths, Don. Clean up your
act.
Vito
"Don Tiberone" <s...@m...com> wrote in message
news:04dbf7a7-394c-40ac-b3f0-9cc25cfc3e64@s1g2000prg
.googlegroups.com...
http://bigpicture.typepad.com/comments/2008/11/aig-w
e-need-mor.html
AIG: We Need More Money
Sunday, November 09, 2008 | 08:30 AM
in Bailouts | Corporate Management | Derivatives | Federal Reserve
And so, more errors of these emergency bailouts begins: Once committed
to the initial $85 billion dollars, what choice does nation have but
to throw good money after bad.
Down the rathole:
AIG is asking the US government for a new bail-out less than two
months after the Federal Reserve came to the rescue of the stricken
insurer with an $85bn loan, according to people close to the
situation.
AIGs executives were on Friday night locked in negotiations with
the authorities over a plan that could involve a debt-for-equity swap
and the governments purchase of troubled mortgage-backed securities
from the insurer.
People close to the talks said the discussions were on-going and
might still collapse, but added that AIG was pressing for a decision
before it reports third-quarter results on Monday.
AIGs board is due to meet on Sunday to approve the results and
discuss any new government plan, they added.
The moves come amid growing fears AIG might soon use up the $85bn
cash infusion it received from the Fed in September, as well as an
additional $37.5bn loan aimed at stemming a cash drain from the
insurers securities lending unit.
AIG has drawn down more than $81bn of the combined $122.5bn
facility. The companys efforts to begin repaying it before the 2010
deadline have been hampered by its difficulties in selling assets amid
the global financial turmoil.
Un-frickin-believable . . .
Don Tiberone wrote:
> http://bigpicture.typepad.com/comments/2008/11/aig-w
e-need-mor.html
>
> AIG: We Need More Money
> Sunday, November 09, 2008 | 08:30 AM
> in Bailouts | Corporate Management | Derivatives | Federal Reserve
>
> And so, more errors of these emergency bailouts begins: Once committed
> to the initial $85 billion dollars, what choice does nation have but
> to throw good money after bad.
>
> Down the rathole:
>
> AIG is asking the US government for a new bail-out less than two
> months after the Federal Reserve came to the rescue of the stricken
> insurer with an $85bn loan, according to people close to the
> situation.
>
> AIG's executives were on Friday night locked in negotiations with
> the authorities over a plan that could involve a debt-for-equity swap
> and the government's purchase of troubled mortgage-backed securities
> from the insurer.
>
> People close to the talks said the discussions were on-going and
> might still collapse, but added that AIG was pressing for a decision
> before it reports third-quarter results on Monday.
>
> AIG's board is due to meet on Sunday to approve the results and
> discuss any new government plan, they added.
>
> The moves come amid growing fears AIG might soon use up the $85bn
> cash infusion it received from the Fed in September, as well as an
> additional $37.5bn loan aimed at stemming a cash drain from the
> insurer's securities lending unit.
>
> AIG has drawn down more than $81bn of the combined $122.5bn
> facility. The company's efforts to begin repaying it before the 2010
> deadline have been hampered by its difficulties in selling assets amid
> the global financial turmoil.
>
> Un-frickin-believable . . .
It is hard to understand where all the money went....
Where does it end, in my fifty years of investing I have never seen anything
like this...
"Don Tiberone" <s...@m...com> wrote in message
news:04dbf7a7-394c-40ac-b3f0-9cc25cfc3e64@s1g2000prg
.googlegroups.com...
http://bigpicture.typepad.com/comments/2008/11/aig-w
e-need-mor.html
AIG: We Need More Money
Sunday, November 09, 2008 | 08:30 AM
in Bailouts | Corporate Management | Derivatives | Federal Reserve
And so, more errors of these emergency bailouts begins: Once committed
to the initial $85 billion dollars, what choice does nation have but
to throw good money after bad.
Down the rathole:
AIG is asking the US government for a new bail-out less than two
months after the Federal Reserve came to the rescue of the stricken
insurer with an $85bn loan, according to people close to the
situation.
AIG’s executives were on Friday night locked in negotiations with
the authorities over a plan that could involve a debt-for-equity swap
and the government’s purchase of troubled mortgage-backed securities
from the insurer.
People close to the talks said the discussions were on-going and
might still collapse, but added that AIG was pressing for a decision
before it reports third-quarter results on Monday.
AIG’s board is due to meet on Sunday to approve the results and
discuss any new government plan, they added.
The moves come amid growing fears AIG might soon use up the $85bn
cash infusion it received from the Fed in September, as well as an
additional $37.5bn loan aimed at stemming a cash drain from the
insurer’s securities lending unit.
AIG has drawn down more than $81bn of the combined $122.5bn
facility. The company’s efforts to begin repaying it before the 2010
deadline have been hampered by its difficulties in selling assets amid
the global financial turmoil.
Un-frickin-believable . . .
Folks said the same thing when the S&Ls all disappeared in the 80's. Most
folks couldn't imagine all the S&Ls disappearing. Or the value of dot coms
going to zero beginning in 2000. Or the value of tulips going to nothing
way back then.
Vito
"Frank" <l...@s...net> wrote in message
news:hDJRk.8628$Ws1.5765@nlpi064.nbdc.sbc.com...
> Where does it end, in my fifty years of investing I have never seen
> anything like this...
>
>
>
>
>
> "Don Tiberone" <s...@m...com> wrote in message
> news:04dbf7a7-394c-40ac-b3f0-9cc25cfc3e64@s1g2000prg
.googlegroups.com...
> http://bigpicture.typepad.com/comments/2008/11/aig-w
e-need-mor.html
>
> AIG: We Need More Money
> Sunday, November 09, 2008 | 08:30 AM
> in Bailouts | Corporate Management | Derivatives | Federal Reserve
>
> And so, more errors of these emergency bailouts begins: Once committed
> to the initial $85 billion dollars, what choice does nation have but
> to throw good money after bad.
>
> Down the rathole:
>
> AIG is asking the US government for a new bail-out less than two
> months after the Federal Reserve came to the rescue of the stricken
> insurer with an $85bn loan, according to people close to the
> situation.
>
> AIGs executives were on Friday night locked in negotiations with
> the authorities over a plan that could involve a debt-for-equity swap
> and the governments purchase of troubled mortgage-backed securities
> from the insurer.
>
> People close to the talks said the discussions were on-going and
> might still collapse, but added that AIG was pressing for a decision
> before it reports third-quarter results on Monday.
>
> AIGs board is due to meet on Sunday to approve the results and
> discuss any new government plan, they added.
>
> The moves come amid growing fears AIG might soon use up the $85bn
> cash infusion it received from the Fed in September, as well as an
> additional $37.5bn loan aimed at stemming a cash drain from the
> insurers securities lending unit.
>
> AIG has drawn down more than $81bn of the combined $122.5bn
> facility. The companys efforts to begin repaying it before the 2010
> deadline have been hampered by its difficulties in selling assets amid
> the global financial turmoil.
>
> Un-frickin-believable . . .
>
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