September 20, 2008
$85 Billion lend to AIG
The Federal reserve agreed to take an 80% stake in AIG by lending $85 Billion to the insurer. On Oct 7th a hearing will be held for AIG by the House Oversight Chairman Henry Waxman.
“House Speaker Nancy Pelosi, D-Calif., said she asked for that hearing along with others to be conducted by Waxman and House Financial Services Committee Chairman Barney Frank, D-Mass. House Budget Committee Chairman John Spratt, D-S.C., will also investigate the $85 billion loan’s impact on the federal budget.” Read More