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Updated: The Federal Reserve is considering participating in a $75 billion emergency financing package for the American International Group, people briefed on the matter said, in an apparent reversal of its refusal to bail out the sickly insurance giant.

Fed officials were still meeting with A.I.G., JPMorgan Chase, Goldman Sachs, Morgan Stanley and others at the Federal Reserve Bank of New York Tuesday morning to discuss possible options. It isn’t clear that any solution, including one involving government money, will emerge, this person said.

If a financing solution is not reached, A.I.G. may file for bankruptcy as soon as Wednesday, a person briefed on the matter said Monday night. The company has hired the law firm Weil, Gotshal & Manges — which is also handling the Lehman Brothers bankruptcy — to draw up bankruptcy papers.

http://dealbook.blogs.nytimes.com/2...to-rescue-of-aig-said-to-falter/index.html?hp
 
I think that the FED is going to put some money up for this. I don't think Jp Morgan and the others are going to work this deal without govt dollars.

I don't know if there is much choice. From what I have been reading, AIG is so big, that they have their finger in almost every pie...if they go down, they are not going alone. I don't think we can afford that.
 
Too bad they should go down. We need some pain so we learn not to continue to be so stupid in the future.
If no pain we learn nothing.
 
all except fannie and freddie shuold stand or fall on their own. Fannie and freddie should as well but since the govt was involved in a quasi privitized business....
 
Darla said:
Well, i understand what you are saying, but, I don't want to see a near collapse either.
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We do not want to achieve the goal we have long worked for ?

we still have had no meaningful soloutions out of our govt for this mess and BS was how long ago ?

just pump more borrowed money into a mess caused by borrowed money ?

We do not seem to be smart enough to run our country.
 
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Fascism will surely come to america, considering the prevalancy of duncecaps like darla that cannot think for themselves.
 
uscitizen said:
We do not want to achieve the goal we have long worked for ?

we still have had no meaningful soloutions out of our govt for this mess and BS was how long ago ?

just pump more borrowed money into a mess caused by borrowed money ?

We do not seem to be smart enough to run our country.
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I don’t have enough info to know the ramifications of not acting. But it was the run on the banks, not the stock market collapse, that most experts attribute to causing the great depression. If we were looking at something like that, then how can you not act? I’d want to see what they’re seeing – how this all plays out if AIG goes down. The dominoes, and where they end. Without that info, I just don’t feel I can say either we should definitely act, we should definitely not act.
 
Darla said:
I don’t have enough info to know the ramifications of not acting. But it was the run on the banks, not the stock market collapse, that most experts attribute to causing the great depression. If we were looking at something like that, then how can you not act? I’d want to see what they’re seeing – how this all plays out if AIG goes down. The dominoes, and where they end. Without that info, I just don’t feel I can say either we should definitely act, we should definitely not act.
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It's a matter of principle. Should gross misconduct and irresponsibility be rewarded with government cash? The people who want this are the same ones who think individual citizens who make a bad decision should get nothing, because they're too small to succeed.
 
Fed Readies A.I.G. Loan of $85 Billion for an 80% Stake
By MICHAEL J. de la MERCED and ERIC DASH
In an extraordinary turn, the Federal Reserve was close to a deal Tuesday night to take a nearly 80 percent stake in the troubled giant insurance company, the American International Group, in exchange for an $85 billion loan, according to people briefed on the negotiations.

In return, the Fed will receive warrants, which give it an ownership stake. All of A.I.G.’s assets will be pledged to secure the loan, these people said.

http://www.nytimes.com/2008/09/17/business/17insure.html?pagewanted=print
 
It's times like this that I wish I was f'ing Paul Krugman, even though he is sweaty and arrogant, so that I could call him up and say, hey what is the real deal? I don't know how out of the ordinary the 80% stake is?? That sounds kind of f'd up to me. And the hacks here...well, you can't believe a word they say. I will have to wait for further analysis as it comes out.
 
Darla said:
It's times like this that I wish I was f'ing Paul Krugman, even though he is sweaty and kinda fat, and also, arrogant. I don't know how out of the ordinary the 80% stake is?? That sounds kind of f'd up to me. And the hacks here...well, you can't believe a word they say. I will have to wait for further analysis as it comes out.
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It must suck being unable to think for yourself.
 
Darla said:
Updated: The Federal Reserve is considering participating in a $75 billion emergency financing package for the American International Group, people briefed on the matter said, in an apparent reversal of its refusal to bail out the sickly insurance giant.

Fed officials were still meeting with A.I.G., JPMorgan Chase, Goldman Sachs, Morgan Stanley and others at the Federal Reserve Bank of New York Tuesday morning to discuss possible options. It isn’t clear that any solution, including one involving government money, will emerge, this person said.

If a financing solution is not reached, A.I.G. may file for bankruptcy as soon as Wednesday, a person briefed on the matter said Monday night. The company has hired the law firm Weil, Gotshal & Manges — which is also handling the Lehman Brothers bankruptcy — to draw up bankruptcy papers.

http://dealbook.blogs.nytimes.com/2...to-rescue-of-aig-said-to-falter/index.html?hp
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I blame liberals and socialists.

If only we had abolished every federal agency (aka Ron Paul), or otherwise deregulated the markets even further, it would have sorted itself out.
 
uscitizen said:
An 80% stake in AIG ? Now we are talking socialism.
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Definitely. We now have two of the biggest banks and 80% of one of the biggest insurance companies all owned and run directly by the government.

Bad, bad plan.

We are grabbing them up in leaps and bounds....
 
Damocles said:
Definitely. We now have two of the biggest banks and 80% of one of the biggest insurance companies all owned and run directly by the government.

Bad, bad plan.

We are grabbing them up in leaps and bounds....
Click to expand...

From bad to worse. Credit buying credit.
 
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