Gov’t extends new aid package to AIG
WASHINGTON – The government on Monday unveiled a revamped rescue package to insurance giant
The new package comes as the company has burned through cash and has been unable to find buyers for pieces of its company that it hoped to sell to repay the government on its existing aid package, which totals some $150 billion.
In an interview on NBC’s “Today” show Monday morning, AIG’s chairman and chief executive Edward Liddy, said: “We’re going to be able to pay back the Federal Reserve. The new $30 billion is a standby line. It’s not necessarily something that we think we’ll have to draw on right away.”
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