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- AIG was established in 1919WSJ: AIG Scrambles... (September 15, 2008)
- Rejected an offer made by J.C. Flowers & Company, which is leading a group of private-equity firms, made over the weekend of September 13 and 14, 2008WSJ: AIG Scrambles... (September 15, 2008)
- J.C. Flowers & Co's proposal would have allowed the firms to acquire AIG for $8 billion under certain conditions, which would be one-fourth of AIG's current market valueWSJ: AIG Scrambles... (September 15, 2008)
- Asked the Federal Reserve for a $40 billion bridging loan from the Federal ReserveMarket Watch: In Focus (September 15, 2008)
- Granted $85 million loan by Fed on September 16, 2008
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Amid a wave of upheaval in the banking and mortgage industries, the insurance company American International Group (AIG) is attempting to stave off bankruptcy. On September 12, 2008, AIG's shares dropped 31%. In the wake of the Lehman Brothers bankruptcy of the following Monday, questions arose over the company's future, including rumors of possible bankruptcy.Guardian: Wall Street mauled by Lehman bankruptcy, AIG fears (September 15, 2008) Such consternation was quelled on September 16, 2008, when it was reported that the Federal Reserve would loan AIG $85 billion in exchange for an 80% stake in the company.The New York Times: Fed to Give AIG $85B Loan and Take 80% Stake(September 16, 2008)
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AIG Bankruptcy Questions
Was there inconsistency in deciding too saving AIG but not Lehman? 1 AnswerLehman was technically not regulated and AIG was because it was regulated as an insurance company...there were many inconsistencies that will be debated for man... read more
How will the risks associated by the AIG mortgage risk investments be distributed? 1 AnswerSome risk accrues to stockholders and creditors. A small loss might only cost stockholders money. A medium sized loss could wipe out equity and some debt migh... read more
What is a prearranged bankruptcy? 1 AnswerFrom a Tri-City Herald article on Charter: In a prearranged bankruptcy, a company enters into reorganization with a plan to emerge that has the approval of majo... read more
How is life in Iceland after the bankruptcy? 1 AnswerI read from the paper that it's a great time to travel there these days; most of the hotels, etc are 50% cheaper than usual. read more
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@_SHIPWRECK now is LITERALLY the best time in the world. I started the day that AIG filed for bankruptcy. Nothing is cheaper than it is now!
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Bailout in Lieu of Bankruptcy: The Sad Saga of AIG http://bit.ly/2vaU6t
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Bailout in Lieu of Bankruptcy: The Sad Saga of AIG http://bit.ly/2vaU6u
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Bailout in Lieu of Bankruptcy: The Sad Saga of AIG: The Office of the Inspector General of the TARP released a toug... http://bit.ly/4wt0fi
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