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AIG's board of directors responded to the Federal Reserve's bailout in a statement, saying that it was the best choice for "AIG's constituencies, including policyholders, customers, creditors, counterparties, employees and shareholders." The statement said although AIG has $1 trillion...
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The Federal Reserve Bank of New York announced it would lend up to $85 billion to the American International Group late Tuesday night. The Fed said in a press release that the "terms and conditions (are) designed to protect the interests of the U.S. government and taxpayers." The release said...
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The U.S. Federal Reserve is reconsidering a bridge loan to American International Group , Bloomberg News is reporting. Citing "a person familiar with the negotiations", Bloomberg said the U.S. government is backtracking on earlier rhetoric suggesting there would be no bailout. The source declined...