Wall Street’s star bankers and traders, regardless of where they work, will still reap paychecks worth millions of dollars.
R.
Awhhh we must’ve given them a backdoor loan so that they could pay off the first loan.
NYSE:AIG gives every appearance to me of being permanently comatose and on some form of hidden life support, much like Nortel in 2001. Who in the real world would ever want to buy AIG stock now and in the forseeable future? Who is propping its stock price up (the Fed?).
I’m willing to issue a security if the government’s willing to buy my debt. I’ll pay it back when it’s more convenient to me as well.
BS headline and horrible article.
Until the gov is able to sell its 92%, and until we know at what price, THEN we will know if the GOVERNMENT was able to recover what they loaned AIG.
Nice to see the article mentioned the amount loaned/used to bailout...ooops, no they missed that HUGE piece of info.
Despite AIGs problems it is still the world’s largest insurance company..... true or not I heard that on the radio
With the preferred stock the U.S. is a creditor second in line to only bond holders. With common stock the U.S. will be at least 3rd in line behind preferred stockholders. Is this going to be another Enron? Oh well, I’m sure Geitner knows what’s best for the U.S. /sarc
Adolf Schicklgruber would be so proud.
BS, since the truth of how much tax payers and federal printed funds they have stolen has never disclosed, I doubt they are paying any damn thing. Worthless stock probably bought by fed.
And instead of spending this payback money it will be applied to the National Debt. /s
Who is going to pay for the collapse of the markets, the depression and 20 million people out of work?
Isn’t this the old You scratch my back —I’ll scratch yours thingy? The Federal Govt. gave AIG taxpayer funding/bailout.
And Govt. Judges also scratched their back saying Shariah Law compliant loans are oky doky in America the defeated. Now AIG is merely paying back the mob.
Investors who stuck by the company through the recession will also be rewarded as part of the recapitalization.
AIG plans to issue 75 million "warrants" next week that will allow current shareholders to purchase common stock at price of $45.00, a 23% discount from its Wednesday close of $58.40.
This is SOOOOOOOO MUCH BS. People who held AIG stock that was somewhere North of $1200/share before the crash, watched it plummet to single digits and then endured a 1:20 REVERSE SPLIT are now being "REWARDED" with the ability to BUY more stock at $45/share.