minx.cc - 3/2/2009
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Sweet shit in a bucket! In follow up news to my earlier post about giving AIG yet another bailout, AIG is suing us! The insurer filed the lawsuit on Friday because of a dispute with the IRS over $306 million...
More AIG
calculatedriskblog.com 3/1/2009 — Note: For the grim economics news in graphs, please see my post yesterday: February Economic Summary in Graphs First a repeat of Eric's great AIG cartoon! Click on cartoon for larger image in new window. Cartoon from Eric G. Lewis From the ...
Treasury and Fed: AIG Restructuring Plan
calculatedriskblog.com 3/2/2009 — From the Fed: U.S. Treasury and Federal Reserve Board Announce Participation in AIG Restructuring Plan The U.S. Treasury Department and the Federal Reserve Board today announced a restructuring of the government's assistance to AIG in order to ...
The Most Humongous Loss
echidneofthesnakes.blogspot.com 3/2/2009 — That would be the one AIG is going to report for its last quarter: 62 billion smackers! AIG is too big not to be saved, though. It reminds me of those science-fiction monsters which canNOT die, whatever body parts get cut off. New ones simply grow in ...
CNBC: AIG Asking for more Government Funds
calculatedriskblog.com 2/23/2009 — CNBC Headline : AIG Is In Talks With Government To Secure Additional Funds to Keep Operating, CNBC Has Learned Click on cartoon for larger image in new window. Cartoon from Eric G. Lewis Update from David Faber: AIG Seeks More US Funds As ...
AIG To Announce $60 Billion Quarterly Loss: Market Was Looking For $6 Billion
rightsoup.com 2/24/2009 — Look out below! Double-bailout recipient AIG is due to report earnings Monday, and according to Reuters, it ain’t gonna be pretty. When the market is expecting a loss, and you then post a loss that is $59 billion dollars greater…well, you know what they say about markets and surprises....
Today's Qs for O's WH - 3/2/2009 —
Political Punch
TAPPER: Two questions, one on AIG and one on CIA. AIG, is the administration confident that it -- that it knows what happened to the tens of billions of dollars previously given to AIG? GIBBS: Is it confident -- I'm...
AIG vs the Gnomes of Zurich (and the US Taxpayer) —
Miserable Donuts
Bah . AIG is my employer's largest competitor in North America. They have now basically become a US owned entity that apparently has endless access to the US Treasury. You know, the tax money all of us chumps out here working for AIG's competition have had taken from us... If AIG is this ...
AIG: $61.7 Billion Loss —
Calculated Risk
Note: For the grim economics news in graphs, please see my post yesterday: February Economic Summary in Graphs For the Fed and Treasury AIG restructuring announcement, please see the previous post. From MarketWatch: AIG reports fourth-quarter loss of over $61 billion [AIG] said its ...
AIG Gets a Bigger Bailout —
Truthdig: Drilling Beneath the Headlines
The government is expected to come to AIG’s rescue for a fourth time as the mega-insurer prepares to announce the biggest quarterly loss by a single company in the history of the world. Reports put the bonus bailout at $30 billion, less than half of AIG’s expected quarterly ...
Report: AIG Deal Near —
Calculated Risk
From Reuters: Exclusive: AIG near deal on new terms of bailout (ht Brad) American International Group Inc is close to a deal with the U.S. government ... The revised AIG agreement is expected to include an additional equity commitment of about $30 billion, more lenient terms on an existing ...
The Two Sides of AIG —
Angry Bear
In this corner, as previously mentioned , Yves Smith goes for the slam dunk : Let's see, the credit default swaps market, due to some netting, is now somewhere north of $30 trillion (as opposed to its earlier "north of $60 trillion" level). Investment banks were believed to have hedged most of ...
Dem lawmaker says new AIG assistance unlikely to work —
News
The federal government's new $30 billion installment support for troubled insurer AIG is unlikely to work, one Democratic lawmaker said Monday.
"If I were a betting person and asked whether I think this is going to work, I'd say probably not," Rep. Elijah Cummings (D-Md.), a senior member of the ...
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Viking Pundit
Here we go again, part 2, um four – AoSHQ "AIG Bailout #4": "Tomorrow (that is, Monday), AIG is expected to announce the single largest value loss of suffered by a company in a single quarter. The announcement will be made concurrently with the announcement of AIG's latest bailout from Treasury. ...
AIG rewarded for failure —
Hyscience
Another $30B in taxpayer bailout : Screw up, move up. It's how Obama cabinet officials get ahead. And it's how Washington's favored failing businesses get more of your money. The first $85 billion bailout under Bush didn't work. The second $38 billion under Bush didn't work. So, hey, how about ...
AIG gets $30 billion more in bailout funds —
The Swamp
by Frank James
Another day, another massive taxpayer-funded cash infusion into a financial giant.
American International Group or AIG, the large insurance company deemed too big to fail because of its extensive linkages throughout the global financial system, was provided $30 billion by ...
AIG Bailout No. 4 —
Ace of Spades HQ
Hold on to your butts. Tomorrow (that is, Monday), AIG is expected to announce the single largest value loss of suffered by a company in a single quarter. The announcement will be made concurrently with the announcement of AIG's latest...
AIG: Earnings at 6 AM ET, Webcast at 8:30 AM —
Calculated Risk
From AIG: American International Group, Inc. (AIG) will report its fourth quarter and full year 2008 results on Monday, March 2, 2009 at approximately 6:00 a.m. EST. AIG’s earnings release and financial supplement will be available in the Investor Information section of www.aigcorporate.com ...
This Makes More Sense--or Does It? —
Angry Bear
Dr. Black (you know the site) links to AIG Strike Three . And unlike the Citi debacle previously discussed (relatively) positively and rather negatively here, this one makes some form of sense. The difference comes down to the meaning of an accounting concept: ongoing concern. More below the ...
AIG To Get New $30 Billion Bailout —
The Huffington Post | Full News Feed
AIG's board was on Sunday due to approve a radical plan to give the government a controlling stake in two of the stricken insurer's largest divisions in exchange for a new $30bn-plus lifeline from the US authorities.
Under the deal, the third government rescue of AIG since September, the US ...
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