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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (10394)	10/23/2008 9:46:22 AM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 33421

i agree with this.

To: Cogito Ergo Sum who wrote (10394)	10/23/2008 5:22:13 PM
From: stomper	Respond to of 33421

AIG's Liddy Says $122.8 Billion U.S. Loan 'May Not Be Enough' By Hugh Son Oct. 23 (Bloomberg) -- American International Group Inc., the insurer bailed out by the U.S., may need to borrow more than the $122.8 billion already offered by the government if capital markets don't improve, said Chief Executive Officer Edward Liddy. AIG, which averted collapse last month with a Federal Reserve loan, is dependent on ''what happens to the capital markets,'' Liddy, 62, said late yesterday on PBS's ''The NewsHour With Jim Lehrer.'' AIG needed cash after credit downgrades forced the insurer to post more than $10 billion in collateral to clients who purchased guarantees on bonds that lost value. ''To the extent they continue to go down and we have to keep posting collateral, as it's called in the vernacular of the industry, it's possible it may not be enough,'' Liddy said. Liddy, the former Allstate Corp. CEO appointed by the government to run AIG last month, is selling businesses including U.S. life insurance, plane leasing and consumer finance to repay the loan. The New York-based company had tapped $82.9 billion, two-thirds of its total Fed credit line, as of last week and new figures may be disclosed today.