Message ID: #5041 Matt Admin Points: Posts: 34 AIG Gets $85 Billion Fed Loan Posted: 2 Months, 2 Weeks ago THANKS: 0   The U.S. reversed its opposition to a bailout of AIG, the nation's biggest insurer by assets, after private efforts failed and the Federal Reserve decided that ``a disorderly failure of AIG could add to already significant levels of financial market fragility,''. AIG gives up a 79.9 percent stake to the government and senior managers including Chief Executive Officer Robert Willumstad, 63, will give up their jobs. The two-year revolving loan gives AIG time to sell assets ``on an orderly basis,'' the New York-based insurer said late yesterday in a statement. The U.S. has the right to discontinue payment of dividends to AIG's common and preferred stockholders, who are already reeling from a 94 percent drop in common shares this year. Should the Government have let AIG go under? Percentage Yes 50% No 50% Powered by RealPennies   Report to moderator   Logged     | The administrator has disabled public write access.