Thank God! It's a done deal, $37.8 billion additional granted to AIG!

[Bluebear]

CHARLOTTE, N.C. - The Federal Reserve on Wednesday agreed to provide insurance giant American International Group Inc. with a loan of up to $37.8 billion, on top of one made to the troubled company last month.

Under the new program, the Federal Reserve Bank of New York will borrow up to $37.8 billion in investment-grade, fixed income securities from AIG in return for cash collateral. These securities were previously lent by AIG's insurance company subsidiaries to third parties.

The arrangement will help AIG secure funds on an as-needed basis, the New York-based insurer said in a statement.

http://news.yahoo.com/s/ap/20081008/ap_on_bi_ge/fed_aig

[JuniperLea]

1. Thank God!

I was beginning to wonder how they were going to pay for the year end party! The spa day was just a warm up:) The year end event will rock the house.

[Bluebear]

2. These parties and trips are often on as "as needed" basis, you know. nt

[rzemanfl]

3. My insurance with those fuckers renews on the 25th. I am

going to switch companies. Let 'em sink.

[magellan]

4. Did they subtract that invoice? n/t

[Bluebear]

5. Silly, silly Magellan!

Of course not.

[IamyourTVandIownyou]

6. AIG

America Is Gone.

[gollygee]

7. I've been very worried about them.

Now perhaps I will someday be able to retire. More parties for the rich! It's all that will save us!

[newtothegame]

8. This crap makes me so angry!

[AlCzervik]

9. But did it pass....Thank God!

:7

[arcadian]

10. Thank God it passed!

[libnnc]

11. Yes, Thank Gawd *clap clap clap*

:sarcasm:

[Octafish]

12. Lucy Komisar kicks AIG in the pants...

Thanks to the great Dave Emory, we can enjoy her work:

http://spitfirelist.com/?p=2339

http://wfmu.org/playlists/DX