Fed lends $85 billion to save AIG

Believing that its failure would further weaken the financial market, the Federal Reserve Board has authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG). The Federal Reserve said that the loan would be repaid from the proceeds of the sale of parts of the firm’s assets, which will be sold off “in an orderly manner, with the least possible disruption to the overall economy,” with the U.S. Government receiving a 79.9% equity interest in AIG. “The Board determined that, in current circumstances, a disorderly ...

To continue reading this article, please register or login – it’s quick and free…

Member Login

Enter your email address below, and we'll email your password.

Are cookies enabled in your browser?

This site uses cookies and session data to keep track of your name and preferences while you're logged in. You cannot login without enabling cookies.

One Step Registration

Fill out the form below for instant access to the page you’ve requested.

Website members also receive access to our entire archive and may apply for a complimentary subscription to our print magazine.

All fields are required Personal Info
  Required Must be a valid email
  Required Passwords must match
  Required
  Required
  Required
  Required
  Required
  Required
  Required

Fleet Owner Magazine


Submit the form for instant access to the page you've requested.

From the Print Issue

November 2009

Ask the Experts

A panel of professionals answers your questions on a variety of topics

Idling
Alternatives

John Dennehy

Tires

Tim Miller

Filters

Paul Bandoly

Featured Jobs