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[QUOTE]Originally posted by BooDog: [QB] AIG 3.34 thinkin this will tank but we'll see. I have no position in it. (cept my practice account lol) AIG to Receive $37.8 Billion More in Loans From Fed American International Group could get nearly $38 billion in fresh cash under a program announced by the Federal Reserve in addition to the $85 billion government loan it got last month. Under the new plan, the Federal Reserve Bank of New York will take up to $37.8 billion in investment-grade, fixed-income securities from AIG in exchange for cash. Aig Headquarters The securities were previously lent by AIG's [AIG 3.19 -0.32 (-9.12%) ] insurance company subsidiaries to third parties. The Fed said the new program will allow the company to replenish liquidity used in settling transactions with counterparties. On the brink of failure last month, AIG was bailed out when the government offered it an $85 billion loan during the ongoing credit crisis that saw Lehman Brothers Holdings file for bankruptcy protection and the sale of Merrill Lynch to Bank of America. In return for the two-year loan, the government received warrants to purchase up to 79.9 percent of AIG. As of Sept. 30, AIG had drawn $61 billion on the credit facility, of which about $54 billion has gone toward its securities lending and AIG's financial products area. The rest of the money has been for other liquidity needs amid an "unprecedented" freezing of credit markets, Chief Executive Edward Liddy said last week. [/QB][/QUOTE]
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