Reuters : AIG hires law firm to draw up bankruptcy papers

[emjay]

See http://www.reuters.com/article/newsO...67097420080916

If they go belly-up, it will make the Lehman collapse look lame

[Furious_Male]

Playing chicken with the Fed.

http://www.reuters.com/article/newsO...G1567720080917

[Manowar]

no surprise to see them bailed out

[emjay]

Originally Posted by Furious_Male

Playing chicken with the Fed.

http://www.reuters.com/article/newsO...G1567720080917

US Tax payers to the rescue!

[Sansa]

Originally Posted by Manowar

no surprise to see them bailed out

Such a shame, I'd much rather see them burn and lesson learned.

[GatorB]

Originally Posted by Furious_Male

Playing chicken with the Fed.

http://www.reuters.com/article/newsO...G1567720080917

Not exactly a bailout since the government now owns 80% of them. At any rate notice how the government is taking overall these companies now? State owned companies. Hmmm what does that remind me of?

[IllTestYourGirls]

So do we all get free insurance?

[GetSCORECash]

At 11% interest the government is going to make some money on this loan.

[pocketkangaroo]

Originally Posted by GatorB

Not exactly a bailout since the government now owns 80% of them. At any rate notice how the government is taking overall these companies now? State owned companies. Hmmm what does that remind me of?

We paid $85 billion for 80% of a failing company worth $10 billion on paper. This is a bailout.