Fortune 500 insurance conglomerate American International Group is looking for a $20 billion dollar bailout.
The Manhattan-based company, the 18th largest in the world, also plans to sell $20 billion in ets. They will unload their aircraft-leasing arm, International Lease Finance Corporation, the world’s largest aircraft leasing company, and possibly its annuities business and auto insurance unit to raise cash.
They rejected investments from buyout firms KKR & Co., TPG Inc. and J.C. Flowers & Co.
AIG has reportedly asked the Federal Reserve for a $40 billion loan.
AIG stock fell 64 percent on the New York Stock Exchange, extending last week’s 46 percent plunge. It was AIG’s worst single-day loss on the stock market since July 1980.
AIG lost $18.5 billion in the past three quarters.
Duration : 0:3:28
June 14th, 2009 at 12:46 pm
im on cam and bored …
im on cam and bored
lovin this video!! leave me a comment GF
June 14th, 2009 at 12:46 pm
You can go back in …
You can go back in history to see what got us here. What let it happen is NO REGULATION. Nope, our GOP friends don’t like that word. So to middle class America, it is your tax dollars at work here bailing out the rich. I hope everyone reading this has FINALLY had enough of this republican administration. Just watch c-span for 2 days and you will realize that bush and cheney should be in prison for the rest of their lives. General population/No regulation!