editor Posted September 16, 2008 Share Posted September 16, 2008 I've been seeing a lot in the news lately about AIG's financial position.Here's a CNN article that tries to answer some common questions. Link to comment Share on other sites More sharing options...
Subdude Posted September 16, 2008 Share Posted September 16, 2008 I was glued to Bloomberg all day following the story. Bottom line is AIG needs like $70 billion cash (yesterday it was $40b) fast. It has approached the Fed & Treasury for loans, but thy would prefer to stick to the Lehman line and let AIG find it from private sources. If they can't turn up the money by tomorrow it is assumed they will file bankruptcy. It's sort of like a game of chicken. Latest rumor is that the Treasury is going to blink and hand over the money and call it a "loan". Link to comment Share on other sites More sharing options...
KristinDaugherty Posted September 16, 2008 Share Posted September 16, 2008 The state of AG/AIG is that it remains one of the worst employers in Houston. Corporate culture is pretty much to hire younguns fresh out of school, pay 'em the least possible, then fire half the force periodically, hire back the top 10% as contractors, and start over again. Link to comment Share on other sites More sharing options...
plumber2 Posted September 16, 2008 Share Posted September 16, 2008 Gus Wortham is probably turning over in his grave. Link to comment Share on other sites More sharing options...
Subdude Posted September 17, 2008 Share Posted September 17, 2008 PS, they got the bailout. $85 billion. Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted September 17, 2008 Share Posted September 17, 2008 And we got the phallic boot. Link to comment Share on other sites More sharing options...
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