Embattled insurer American International Group Inc. will receive up to $30 billion in additional federal assistance as part of a revamped government bailout plan that will see the Federal Reserve take stakes in two international units, a person familiar with the matter says.
The new deal calls for the Treasury and the Federal Reserve to provide fresh capital from the government's Troubled Assets Relief Program, or TARP, the source said, asking not to be named because the discussions are still ongoing.
The new funding marks the fourth government rescue of AIG since September. It is intended to further support the New York-based insurer, which is expected to announce $60 billion in quarterly losses early Monday.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus