AIG Reaches $70B Mark In Federal Reserve Loan

Law360, New York (October 10, 2008, 12:00 AM EDT) -- American International Group Inc. has already borrowed $70.3 billion from the U.S. Federal Reserve since receiving an initial $85 billion line of credit from the government in September.

Over the week ending Wednesday, Oct. 8, the insurance giant drew $9 billion, according to Federal Reserve Board statistics released Thursday.

On Wednesday, AIG announced it had received an additional $37.8 billion credit line from the Fed after already spending $61 billion of the $85 billion the government agreed to lend in September in order to bail out...
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