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AIG’s IOU Coming Due With Strings Attached

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Posted on Sep 30, 2010
Flickr / Clyde Robinson (CC-BY)

AIG plans to start paying back the taxpayers some of the $182 billion it borrowed, but the plan involves trading the government’s preferred shares in the company for common stock, a move that ought to raise at least one eyebrow.

BBC:

The Treasury would get about 1.66 billion of AIG common shares, worth $62bn at Wednesday’s close, in exchange for the $49.1bn of AIG preferred shares it now holds.

That would boost the Treasury ownership stake in AIG up to 92.1% from its present level, with that stake then being sold off gradually.

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By P.W. Walker, October 1, 2010 at 10:57 am Link to this comment

Is it me, or shouldn’t the government have demanded common shares instead of
preferred shares so they can exert some shareholder control of AIG?

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PatrickHenry's avatar

By PatrickHenry, September 30, 2010 at 5:01 pm Link to this comment

Let them fail or be the models of regulation and salary and comphensation caps.

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By samosamo, September 30, 2010 at 2:55 pm Link to this comment

****************


As Paul Volker on a post here, with video, at TD
and Robert Scheer says, LET EM FAIL!

I am sick and tired of those who created and
orchestrated this financial terrorist attack, not
just getting away with it but being rewarded.

And then under threat of sinking the u.s. and
possibly the world economies, to still remain
immune to ANY regulations of any kind for wall
street. They want to threaten that, then CALL EM
ON IT! This economy is a huge barnum and bailey
charade where the ‘actuals’ are nothing.

How does slick willie justify signing the
‘commodity futures modernization act’ now? And
will the american people actually elect his hill billy
wife as president one day?

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