Shocking AIG news

Discussion in 'Wall St. News' started by stock777, Mar 8, 2009.

  1. NEW YORK (AP) — The federal bailout of insurance giant American International Group Inc. has benefited at least two dozen U.S. and foreign financial institutions who collected some $50 billion, according to media reports Saturday.

    AIG — once the world's largest insurer — is paying money to its counterparties because it had agreed to guarantee them against losses from credit default swaps they had invested in.


    damn , you mean they didn't just put that $ in a big brown bag? They actually paid it to who they owed it? Shocking.

    Bizzaro reporting on this one.