That was snappy, wasn't it? AIG already has its hands on $28bn of that bridge loan (Fed release here). No points for wondering if this is a bridge of the Alaskan variety.
Total withdrawals via the Fed disount window were over 5 times last week's. Just don't ask to see the collateral.
Total withdrawals via the Fed disount window were over 5 times last week's. Just don't ask to see the collateral.
Exhibit: Fed table H.4.1 "Factors Affecting Reserve Balances"
Since we taxpayers own the company, and since it is managed by our 535 congress critters; AIG did not tap into our savings, we tapped into our savings!
Welcome to socialism!