AIG Reportedly To Get Up To $30B More In Federal Aid

By: Associated Press
By: Associated Press

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.)

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