AIG to Borrow From Treasury as Part of Exit Plan

[notesdev]

The U.S. government and American International Group Inc. (NYSE: AIG) on Wednesday announced a deal to accelerate repayment of taxpayer dollars and clear the road for the company to reclaim its independence.

Terms of the arrangement, which were outlined in September, call for the company to borrow funds from the Treasury Department to repay the remainder of its debt owed to the Federal Reserve, leaving the Treasury holding the bulk of the beleaguered company's common stock.

Once the world's largest insurer, AIG received more than $180 billion of bailout funds from the government to help cover investments that vanished during the collapse of the U.S. real estate bubble. The "definitive recapitalization agreement" signed by AIG "marks an important step forward in our progress toward completely repaying taxpayers," the company said in a statement.

Under the recapitalization plan, AIG "will have the right to raise up to $3 billion by August 15, 2011," AIG said in a filing with the U.S. Securities and Exchange Commission (SEC).

....

http://seekingalpha.com/article/241308-aig-to-borrow-from-treasury-as-part-of-exit-plan



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Make no mistake about it, this is a direct transfer of private banking losses to the public balance sheet. The historical term for this is "money laundering".

Can we have Geithner fired now, please?

[Lucky 13]

1. We are to take the hit and thank them for the beating. nt

[nc4bo]

2. They are killing us and the really bad thing is; most people aren't even aware

of what's going on.

We need a laser beam so big and powerful that every citizen can't help but take notice.

[Lucky 13]

3. dupe

I'm having problems on DU today...

[Lucky 13]

4. We are in lalaland. A few lone voices shouting a warning in a sea of zombies.

Everything is fine. Everything is great. Don't criticize. Don't object. Don't rock the boat. Your only choices are bad and worse.

(fingers in ears) lalalalalalalalalalala

[RKP5637]

6. Yep, so much pertinent information is lost in the shuffle, info. overload and

disinformation so most people just are not aware of the shenanigans all over the place.

And another really bad thing is I bet many Americans just "assume" things will work out OK, so the robbers have free reign.

[Octafish]

5. AIG are swell: Oh So Socialism.

Bit o' background for those new to the subject:

Bailout of AIG, the CIA, and Covert Operations.