Pace of AIG's Borrowing Shocks Experts

Law360 (October 3, 2008, 12:00 AM EDT) -- It was a roller coaster ride for American International Group Inc. on Friday as the distressed insurance giant began the day with an upbeat divestiture plan from CEO Edward Liddy, only to be hit later with a credit downgrade based on the company's epic borrowing.

A “strong, viable and nimble,” but smaller, company will emerge as AIG divests and redirects its focus toward core property, casualty insurance and foreign life insurance operations, Liddy said on Friday.

But news that AIG – in just over two weeks...
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