AIG reaches agreement for exit plan

Posted on September 30th, 2010 in News and Commentary

AIG reaches agreement for exit plan

From the FINANCIAL TIMES:

… “We are very pleased that this agreement vastly simplifies current government support of AIG, sets forth a clear path for AIG to repay the FRBNY in full, and sets in motion the steps for the US Treasury to exit its ownership of AIG over time.”…

Meanwhile, AIG, which has $49.1bn of Tarp preferred shares outstanding, will give the Treasury 1.655bn shares of its common stock. It will also issue up to 75m warrants with a strike price of $45 a share to existing common stockholders. …

“The exit strategy announced today dramatically accelerates the timeline for AIG’s repayment and puts taxpayers in a considerably stronger position to recoup our investment in the company,” said Tim Geithner, US Treasury secretary…

Click here to read the full article. You can also click here for even more information.

Share

Leave a Reply

*

More News

Credo

"....I have never made it a consideration whether the subject was popular or unpopular, but whether it was right or wrong; for that which is right will become popular, and that which is wrong, though by mistake it may obtain the cry or fashion of the day, will soon lose the power of delusion, and sink into disesteem." Thomas Paine, Common Sense, on "Financing the War", March 5, 1782

Categories

Blog Archives

NewsLanc looks back at a decade of service

NewsLanc looks back at a decade of service

NewsLanc looks back at a decade of service

At 77, we cannot be confident that there will be ...

Convention Center Series

Convention Center Series Index

Convention Center Series Index

Chapter 1: Beginnings- Revised Chapter 2: Dream Team- Revised Chapter 3: Helping ...

Honoring those who challenged the Convention Center Project

Earlier this month, NewsLanc published “The $63.6 million convention center ...

Keisling on Pennsylvania Politics Index

Index of the ongoing series by Bill Keisling Six Decades of ...

Lancaster Acquisition of Harrisburg Incinerator

Prospects cloudy for Corbett’s Harrisburg bailout

Prospects cloudy for Corbett’s Harrisburg bailout

by Bill Keisling Corbett Administration officials publicly say the Act 47 ...

Coalition forming to challenge Corbett administration’s Harrisburg bailout plans involving LCSWMA incinerator purchase

by Bill Keisling Citizens dissatisfied with the Corbett administration's plan to ...

Tsukerman on Russia

Two oil giants:  Russian and French

Two oil giants: Russian and French

By Slava Tsukerman All the Russian leftists and most of Russian ...

Ibsen’s “An Enemy of the People” is viewed differently through Russian eyes

By Slava Tsukerman Can a production of a play from 1882, ...

Memoirs

If you live long enough…

If you live long enough…

A great fuss was raised by Republicans during the late ...

The need to ration health care for the elderly, an example

By Robert Field It has been well publicized although largely ignored ...

LGH Series

Doctors Find Barriers to Sharing Digital Medical Records / LNP afraid to investigate?

Doctors Find Barriers to Sharing Digital Medical Records / LNP afraid to investigate?

EDITOR: We challenge the Lancaster Newspapers to write critically concerning ...

F.T.C. Wary of Mergers by Hospitals (Lancaster General take note)

EDITOR: This is what has been going on in ...