Thursday, February 11, 2010
Another Wrinkle in the A.I.G. Bailout
The plot thickens again for the American International Group bailout. The rescued insurer is in discussions to sell its American Life Insurance, or Alico, unit to MetLife. But A.I.G. might get MetLife stock as part of the potential $15 billion deal. As a result, the government could end up owning stock in yet another company, bringing further delay and uncertainty to the bailout repayment effort.
In one of the iterations of the bailout, in which the government committed more than $180 billion, the New York Federal Reserve converted $9 billion of debt A.I.G. owed into a preferred equity interest in Alico...
NYT: Another Wrinkle in the A.I.G. Bailout
In one of the iterations of the bailout, in which the government committed more than $180 billion, the New York Federal Reserve converted $9 billion of debt A.I.G. owed into a preferred equity interest in Alico...
NYT: Another Wrinkle in the A.I.G. Bailout
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