Free Republic 2nd Qtr 2026 Fundraising Target: $81,000 Receipts & Pledges to-date: $1,870
2%  
Woo hoo!! 2nd qtr 2026 FReepathon is now underway!!

Keyword: liquiditysqueeze

Brevity: Headers | « Text »
  • A.I.G. Uses $61 Billion of Fed Loan (only $24bn left, no buyer for their assets)

    10/05/2008 8:02:11 AM PDT · by TigerLikesRooster · 26 replies · 984+ views
    NYT ^ | 10/04/08 | ARY WILLIAMS WALSH
    A.I.G. Uses $61 Billion of Fed Loan By MARY WILLIAMS WALSH The American International Group said on Friday that it had already drawn down $61 billion of the $85 billion emergency bridge loan it received from the Federal Reserve two weeks ago, an announcement that startled credit ratings agencies. The emergency loan was supposed to buy the company time to sell its troubled assets in an orderly manner. But the sell-off has not yet begun, and now the insurer faces the additional pressure of trying to sell the businesses at a time when potential buyers are having trouble borrowing money....