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WEDNESDAY, NOVEMBER 25, 2009
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AIG Gets a Bailout

Started by K Schwartz; Last updated by K Schwartz

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AIG Gets a Bailout

"Its collapse would be as close to an extinction-level event as the financial markets have seen since the Great Depression" -- money manager Michael Lewitt of AIG


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  • September 2008

    • Stocks Plunge at Open

      CNNMoney  |  Sep 15, 08 9:09 AM CDT

      Stocks Plunge at Open

      (Newser) - Stocks tumbled at the opening bell this morning, with the Dow dropping more than 300 points after a weekend that turned the financial industry on its head. Lehman Brothers’ collapse and AIG’s request for $40 billion from the Federal Reserve “are causing a major financial panic this morning,” said one strategist—though Bank of America’s takeover of Merrill Lynch injected some optimism, CNNMoney reports. More »

    • AIG Seeks $40B Fed Loan in Bid to Prevent Collapse

      New York Times  |  Sep 15, 08 2:25 AM CDT

      AIG Seeks $40B Fed Loan in Bid to Prevent Collapse

      (Newser) - In yet another Wall Street meltdown, floundering insurance giant American International Group has turned to the federal government in a bid to stave off a threatened credit-rating downgrade that could trigger the firm’s immediate collapse, reports the New York Times . AIG has requested a $40 billion bridge loan from the Federal Reserve and is trying to sell off its most valuable assets—including its domestic automotive business and its annuities unit. More »

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Japan headquarters of AIG, American Insurance Group, Inc., soars in downtown in Tokyo Wednesday, Sept. 17, 2008. In a bid to save financial markets and economy from further turmoil, the Federal Reserve said Tuesday it would provide up to $85 billion in an emergency, two-year loan to rescue the New...
Japan headquarters of AIG, American Insurance Group, Inc., soars in downtown in Tokyo Wednesday, Sept. 17, 2008. In a bid to save financial markets and economy from further turmoil, the Federal Reserve...   (AP Photo/Katsumi Kasahara)
A woman walks past the office of U.S. insurance giant AIG, American International Group, in Croydon, South London, Tuesday, Sept. 16, 2008.
A woman walks past the office of U.S. insurance giant AIG, American International Group, in Croydon, South London, Tuesday, Sept. 16, 2008.   (AP Photo/Sang Tan)
A man leaves an American International Group office building Tuesday, Sept. 16, 2008 in New York.
A man leaves an American International Group office building Tuesday, Sept. 16, 2008 in New York.   (AP Photo/Mark Lennihan)
The AIG logo is shown Wednesday, Sept. 17, 2008 in New York. Stocks headed for a lower open, with investors still anxious about the financial sector even after the government bailed out AIG.
The AIG logo is shown Wednesday, Sept. 17, 2008 in New York. Stocks headed for a lower open, with investors still anxious about the financial sector even after the government bailed out AIG.   (AP Photo/Mark Lennihan)
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