AIG's New Plan: Restructuring is now $125 Billion
Monday, November 10, 2008 | 06:40 AM
The original $85 billion dollar package is now 70% higher, at $125 billion. Bloomberg reports it could easily scale up to $150 billion.
The U.S. will cut the original $85 billion loan that saved the New York-based insurer in September to $60 billion, buy $40 billion of preferred shares, and purchase $52.5 billion of mortgage securities owned or backed by AIG.
Yves Smith does a full blown analysis in the cafe.
Monday, November 10, 2008 | 06:40 AM | Permalink
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