AIG Slashes US Debt Under Deal With New York Fed

[bobthedrummer]

Source: AP via CNBC

Bailed-out insurer AIG said on Tuesday it had closed a pact with the New York Federal Reserve that slashes its debt under a credit facility by more than half, to under $17 billion.

Read more: http://www.cnbc.com/id/34219729

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"What was AIG 'insuring' for all those black budget networks?" (started 10-04-08)
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4169766

[JPZenger]

1. It doesn't seem bad

It is a shift of debt and ownership percentages around to make it easier for AIG to sell off components. It is designed to make it easier for AIG to pay back the Federal government over time and to shrink the company so it is not "too big to fail."

[notesdev]

2. The insider dealing continues

Once again, we get overvalued crap in exchange for real money and we have no input into the process.

[JenGatherer]

3. Very succintly put

We are forced to buy more garbage to prop up the crooks. Collapse and revolution anyone?

[Beavker]

4. I just can't get myself to go to CNBC.com

I hate those right wing whorebags. I'll see if Bloomberg.com has it.

[bobthedrummer]

5. You are so PURE, unlike the rest of US that value and seek the truth wherever it is

:hi:

[pjt7]

6. The FED has gift wrapped everything to AIG

There would be pitchforks thru jugulars, if this was America in 1920.

[TexasObserver]

7. Senator Kay Bailey Hutchinson paid $1 mil to pay off a $10 mil bank loan.

That was during the last big recession that began under Reagan. She walked 90% of the loan.

I imagine most Americans could pay off their mortgages if they could pay 10% of their debt, but those deals are for people who can vote to help the banks that give them such deals.

[HowHasItComeToThis]

8. ALL THE PROPLE YOU ARE MENTIONING ARE CROOKED,,,

I HEAR THAT GOLDMAN SACHS PEOPLE ARE BUYING GUNS AS PROTECTION FROM THE MOBS TO COME