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AIG To Repay US $183B; Also, Pigs Soon to Fly

By Implode-Explode Heavy Industries

" ?American International Group Inc., the insurer bailed out by the U.S., has an ?excellent chance? of repaying the government, outgoing Chief Executive Officer Edward Liddy said today at the company?s annual meeting. AIG plans to reduce its debt under a Federal Reserve credit line by $25 billion by handing over stakes in two non-U.S. life insurance units, the insurer said last week. The New York-based company has tapped about $40 billion from the line."

Full post as published by Mortgage Lender Implode-o-Meter on July 02, 2009 (boomark / email).