Posted on 03/08/2010 6:57:16 AM PST by Toddsterpatriot
NEW YORK (AP) -- American International Group will sell a second overseas life and health insurance unit for $15.5 billion to MetLife Inc. in an ongoing bid to repay billions in government aid.
It was the second major deal AIG completed this month to raise cash. On March 1, AIG agreed to sell Asia-based life insurer, AIA Group, to Britain's Prudential PLC for $35.5 billion....snip....
Including the latest sale, AIG will be able to slash its government debt by $50.7 billion, or 39 percent. Before the sales of AIA and Alico, AIG owed the government $94.76 billion in loans and its outstanding government assistance totaled $129.26 billion.
(Excerpt) Read more at finance.yahoo.com ...
Impossible!
Doomed?
And the paid back loan money will go into Obama’s slush fund, read stash, to buy votes.
AIG Selling off the profitable businesses and keeping the bad ones for us to continue to subsidize.
Paying back their loans means we're not subsidizing them.
AIG will seek more money from Obama after all of their profitable overseas businesses have been sold off.
AIG is being restructured to look like Fannie Mae and Freddie Mac and will seek further loans to cover continuing losses with their US business and will seek to be nationalized by Obama.
Wait until all of their profitable businesses are sold off and you’ll see Obama’s end game.
The issue is no longer AIG. We've moved on to bigger and better things.
The issue is now entire countries. Greece, Portugal, Spain, Ireland. And yes, Britain and the US too, eventually.
The issue is now public debt and the $50 billion which AIG is paying back is barely a drop in the ocean of the US's rising tide of trillions of dollars worth of red ink.
Doom, Doom, Doom, Doom, Doom........
The remaining $34.5 billion in outstanding assistance is tied to the value of investments the government bought from AIG. As those investments pay off or rise in value, the government recoups more money.
If the govt recoups any money, we'll all be on double-secret-probation doom.
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