The US government has provided a $150bn to American International Group in effort to bail out the teetering company. The money comes from the $700bn rescue plan passed by the Congress. This is the record bail out of a private company by the government. The money given includes $40bn for partial ownership of the company.
The Feds have expressed that taxpayer’s money would be restored. The US government had given $85bn to AIG after news came that the company may collapse. Under the new arrangement, the loan would now be curtailed to $60bn.
The US government has provided a $150bn to American International Group in effort to bail out the teetering company. The money comes from the $700bn rescue plan passed by the Congress. This is the record bail out of a private company by the government. The money given includes $40bn for partial ownership of the company.
The Feds have expressed that taxpayer’s money would be restored. The US government had given $85bn to AIG after news came that the company may collapse. Under the new arrangement, the loan would now be curtailed to $60bn.
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