Or is it just me? Now they want to restructure their bailout…unreal> I wonder if the crybabies at AIG are responsible for the crybabies at Manu.
Options under discussion include lowering the interest rate or lengthening the credit line’s two-year term, sources familiar with the discussions said, speaking on condition of anonymity because the negotiations are private.
Another possibility is having the government assume billions of dollars of financial guarantees that put AIG in peril and prompted the government’s September intervention, the sources said
AWESOME! Sounds like a win win deal for the main street if you ask me.
But former AIG chairman Maurice R. “Hank” Greenberg, a major shareholder, made the case for federal forbearance in an interview yesterday, saying the costs associated with the $85 billion loan pose a potentially crushing burden for the company.
“It’s clear that the original terms as the government negotiated with AIG . . . were so draconian that it would be impossible for the taxpayers to be repaid,” Greenberg said.
I’d laugh if I wasn’t crying at the thought that this blowhard really gave a rats ass about the US taxpayer….