New York State ? AIG Bailout

September 15, 2008 12:00:00 AM PDT
New York's governor is allowing AIG to use $20-billion dollars in subsidiary company assets to help it stay in business.AIG is the world's biggest insurer and has lost billions of dollars because of deterioration in the mortgage and credit markets.

New York Governor David Patterson said he asked state insurance regulators to allow the company to provide a bridge loan to itself. Peterson has also asked the head of New York's insurance department to talk with federal regulators about more loans.


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