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AIG Gets More Taxpayer Money...sickening

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User ID: 343905
United States
11/10/2008 11:45 AM
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AIG Gets More Taxpayer Money...sickening
Government provides record aid package to AIG
By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer 32 mins ago

WASHINGTON In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership.

The action, announced by the Federal Reserve and the Treasury Department, was taken as it became increasingly clear that an original financial lifeline thrown to AIG in September would be insufficient to stabilize the teetering company. All told, the moves boost aid to the company to more than $150 billion. Fed officials, however, expressed confidence that the money would be repaid to taxpayers...

[link to news.yahoo.com]
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