AIG Draws Another $2.2 Billion from Treasury

I dont f*ing believe it.
March 17 (Bloomberg) -- Bloomberg's Dan Kraut talks with Erik Schatzker about American International Group Inc.'s decision to draw $2.2 billion from a Treasury Department facility. AIG used the cash to redeem securities held by insurance subsidiaries, improving liquidity and a measure of capital adequacy watched by rating firms and regulators, according to a company spokesman. The New York-based company owes more than $70 billion on Federal Reserve and Treasury facilities.

Copyright Bloomberg 2010

AIG Tim Geithner repo loans Goldman Sachs investigation NY Fed Federal Reserve US Treasury 2.2 billion withdrawn TARP bailout taxpayers screwed

Category:

News & Politics

Tags:

• AIG
• Tim
• Geithner
• repo
• loans
• Goldman
• Sachs
• investigation
• NY
• Fed
• Federal
• Reserve
• US
• Treasury
• 2.2
• billion
• withdrawn
• TARP
• bailout
• taxpayers

[drumsmetalheavy]

Trust me AIG and the too big to fail banks will be drawing many more billiions in the years ahead.

[fal2grace]

@drumsmetalheavy yep they'll take everything they can get. thanks

[mcgrawtim123]

AIG = "All in Grope" of the American taxpayer...and former stockholders...."got your wallet....oh, wait...got your wallet again!"

[fal2grace]

right..."again"...thanks tim.

[78booby]

un-believable.....

maybe they got more

'junkets'

to go to?

[fal2grace]

yep, vacations to plan; weather's getting warmer:)

[deadman12078]

You can't even wipe your ass with a billion dollars these days.

[lcbaudar]

"Umm...well the Fed gets paid back first, because they dictate what goes on around here....Umm...aside from that AIG basically needs to milk more money off the treasury to pay it's counterparties... Umm you know places like Goldman Sachs & Citigroup... Umm.... They get to make off with the money and buy up assets to help them recover once the currency collapses... Umm.... that's basically all that's going on here."

[fal2grace]

that's a good one!

[itubeutude]

Not too big to ask for more money.