American International Group. AIG Fights For Survival. (part 2)

Sep. 15, 2008.
Nation's largest insurer hit by credit raters as it tries to raise cash. Fed asks Goldman and JPMorgan Chase to raise $70 billion for firm. Shares end down 61%.

-------------

The pressure on American International Group reached fevered pitch on Monday night as the troubled insurer was hit by a series of credit rating downgrades.

The cuts could prove deadly to AIG, the nation's largest insurance company, which is scrambling to raise much-needed capital.

Late Monday night, Moody's Investors Service and Standard & Poor's Ratings Services each said they had lowered their ratings.

A few hours earlier, Fitch Rating had also downgraded AIG, saying the company's ability to raise cash is "extremely limited" because of its plummeting stock price, widening yields on its debt, and difficult capital market conditions.

The downgrades will make it more expensive for AIG to issue debt and harder for it to regain the confidence of investors.

Fitch said AIG could be required to post $10.5 billion of additional collateral if it was downgraded one notch by one of the other major rating agencies and $13.3 billion of collateral if downgraded by both, Fitch said in a statement, citing AIG's July 31 estimates.

The grim assessments came after a day in which state and federal officials raced to help the insurer gain access to much needed cash.

The company has lost more than $18 billion in the past nine months.

The credit downgrades could doom its business.


Source:
http://money.cnn.com/2008/09/15/news/companies/AIG/index.htm

Category:

News & Politics

Tags:

• American
• International
• Group.
• AIG
• Fights
• For
• Survival.
• (part
• 2)
• CRISIS
• NOT
• OVER.
• sep.
• 15
• 2008.
• Collapse
• of
• Western
• Economy.
• Reaction.
• Brother
• collapse
• Fannie
• Mae
• Freddie
• Mac
• the
• fed
• stock
• market
• crash
• Asia
• Japan
• China

[YesMrRight]

The world is sick.

America is sick.

1) What is the annual salary of President of America?

2) What is the annual salary of benefits of a CEO ?

If you are sick of what the greedy CEOs are earning , please post it here.

Even a dumb CEO got kick out of the company will get millions of dollars/shares etc.

Sick of it.

To be a President of a country, you are getting paid less than 10% of a CEO is getting.

Reminder.

Every country must change this "greedy CEO" salary .

[ibphotos]

In 29' everything just crashed and these bastards were jumping from the ledges. If they raise my Credit Card rate to cover this, I'm gonna be pissed. I managed to not fall in with the piper on the whole sub-prime, re-finance, house appreciation tune. I feel sorry for those who did. But it's just not sound management. Is this really such a huge surprise?

[grayrz]

China and Middle East banks saved AIG, CNN Sorry but we Americans do nothing about protesting. We are scared of our own govt.

We sit if front of our TVs and complain. While we loose jobs, loose on gas prices, loose on everything. We should stand up and protest but it is easy to not. Because we have everything we want and need in America.

[HolyHipHopR]

Amen to that! Now I just have to get my money back for my recent Life Insurance with A.I.G.

[fergus247]

i agree with you. Seems like the dollar will eventually become worthless and that is when the people will demand change. And then its too late.

Since i am already aware of the Fed it would be safe to assume ive already seen those videos :>

[btbblack]

I get the feeling that since they created the money from thin air in the first place, they would't have much ground to demand it. Couple this with the fact that they are in violation of the U.S. Constitution and abolishing the Fed and restructuring our monitary system may be a good solution. 2 great videos that deal with this subject are "Money as Debt", and "America, Freedom to Fascism"

[KiethTruth]

I cant wait for the rapture too.

[paulDIAT]

All civilizations and powers eventually come to an end. We're lucky the Feds don't own the ENTIRE world's economy, although they do have an enormous impact on it. These crimes (this is a crime - the feds are criminals - the world is governed by criminals) will eventually be seen by other countries, but I think it'll be too late for the majority of the population.

Search for David Rathskeller's speech on population control. Also this vid "☠ POPULATION REDUCTION ☠ MUST" but it's now removed.

[Tenatiouz]

haha Amen! Bunch of bullshit just to live a decent life, even then it's not so decent

[fergus247]

If someone tried to abolish the Fed, wouldnt they try to demand all their money back? All the money that the US owes, and then that way make it an imposibillity to abolish it?