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nakedcapitalism.com - 11/8/2008

The Black Hole Gets Bigger: AIG Back for Yet Another Bailout

— nakedcapitalism.com — The Financial Times reports that AIG is up to its old tricks, back again to the trough... for more money. Christmas The Iceland credit default swaps settlement is coming soon, you know. The worst is that AIG is pretending to act as if this is a ... (more) The Black Hole Gets Bigger: AIG Back for Yet Another ...

White House

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online.wsj.com - 11/10/2008

U.S., AIG Near Rescue Plan Overhaul

— online.wsj.com — The government is near a deal to scrap its original $123 billion bailout of AIG and replace... it with a new $150 billion package, easing terms on the insurer. (more) U.S., AIG Near Rescue Plan Overhaul

U.S. Army

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playboy.com - 11/17/2008

We Want Our Bailout Cash - Or Else!

— playboy.com — Like everyone else in the media world, those of us at Playboy have looked at AIG and... American Express with envy. “Hey, we’re suffering too,” we say. “Where’s our money?” The problem was, even we couldn’t ... (more) We Want Our Bailout Cash - Or Else!

Comments vote downundo vote up Megan McArdle found this 11/17/2008found this

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Excuse Me?
Political Animal — ... out here, right now. With your nice carpet, I guarantee it will cost you more than $50 to clean up your store. And that's before we get into the cost of keeping your store closed while you clean my grey matter off your walls and what my suicide might do to your store's reputation." Oh, and we forgot to mention that the man in the story above pulled the same trick last week and it worked like a charm." More from Yves here: AIG: The Looting Continues . Felix Salmon is similarly underwhelmed , and Willem Buiter thinks it might be " time to pull the plug on AIG" . ...

Excuse Me?
Obsidian Wings — ... your nice carpet, I guarantee it will cost you more than $50 to clean up your store. And that's before we get into the cost of keeping your store closed while you clean my grey matter off your walls and what my suicide might do to your store's reputation." Oh, and we forgot to mention that the man in the story above pulled the same trick last week and it worked like a charm." More from Yves here: AIG: The Looting Continues. Felix Salmon is similarly underwhelmed, and Willem Buiter thinks it might be "time to pull the plug on AIG". ...

A Bigger Bailout
Opinionator — ... billion package, according to people familiar with the matter. While the arrangement stands to considerably ease terms on the faltering insurer, it gives the government an unprecedented role as an actor in financial markets. It could also spark a political backlash, especially from congressional Democrats, because the Treasury, while adding to its AIG obligations, has thus far refused to extend a hand to the struggling Big Three auto makers. Felix Salmon at Porfolio is amazed at “ how spectacularly incompetent AIG has been when it comes to securities lending: Securities ...

MIDDAY ROUNDUP
News — ... to wonder where the fiscally conservative counterinsurgency has gone in the U.S., as she points to the excesses and mismanagement of the firm. The publicly available numbers on AIG make the new round of bailouts seem more like a face-saving measure than anything with economic logic, Portfolio’s Felix Salmon argues. A bailout for AIG would set a precedent making calls to assist the flailing U.S. auto industry more difficult to resist, ...