AIG Gets All the Free Beer and Hot Dogs It Wants
The Troubled Asset Relief Program was renamed over the weekend to Troubled American International Group Relief Program. Revisions to the September bailout of insurance giant AIG have boosted that package’s size to $170 billion, up from $123 billion, and it has shares of AIG soaring, up 18% in premarket action. The government is rolling back the length and interest rate of its existing loan, and will buy $40 billion in preferred shares. It will also cancel the bulk of AIG’s credit default sw
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