New York Allows Big Insurer to Borrow From Itself

[don]

http://www.nytimes.com/2008/09/15/bu.../15aig.html?hp

Gov. David A. Paterson of New York said on Monday that the state would allow the American International Group, a big insurance company, to lend itself $20 billion to bolster its capital as it faces potentially disastrous credit downgrades.

For a hamburger today....

[Tulpen]

Re: New York Allows Big Insurer to Borrow From Itself

My God what a joke, borrowing from yourself to increase you capital.

I have a big check coming in the next three days from AIG, hopefully I can cash it. Call them this morning and I can tell you they were quite busy!

[phirang]

Re: New York Allows Big Insurer to Borrow From Itself

So now AM Best is completely useless???