Fed Gives AIG Another $37.8B

Law360, New York (October 9, 2008, 12:00 AM EDT) -- American International Group Inc. has announced it will receive an additional $37.8 billion from the U.S. Federal Reserve after plowing through $61 billion of the $85 billion lifeline the government threw it in September, raising new questions over the stability of the beleaguered insurance giant.

Facing a dwindling cash supply as it restructures itself amid market turmoil, AIG said it would use the new loan on an “as needed basis” in order to avoid further drawing down on the original Fed loan and to strengthen the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.