AIG is handed a loaded revolver
AIG is being killed off as the US government focuses too much on retribution.
It is a military tradition in certain countries that disgraced officers are given a loaded revolver in a private room. The idea is that a lonely suicide is preferable to public disgrace. It appears that the bailout of AIG follows somewhat the same model.
It seems that under the terms of the announced deal, the US government will be issued warrants by AIG which, if exercised, would give the government an 80% stake in the company, in return for a...
To continue reading, please login or register for free