Wednesday, September 17, 2008

Fed Loan To AIG Will Be 850 Basis Ponints Over LIBOR

The Federal Reserve Board is lending as much as $85 billion to rescue American International Group. The Fed will earn 850 basis points above LIBOR and will also receive a 79.9% stake in the company.

As of December 31, 2007, AIG listed $1.1 trillion in assets.

-EPJ Newsdesk

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