CNBC Reports that AIG’s Private Sector Solution is Highly Unlikely
We reported late last night that according to people familiar with the situation, American International Group Inc. (AIG) was looking to be propped up by $70 billion to $75 billion in loans arranged by Goldman Sachs Group Inc. and JPMorgan Chase & Co. However, this morning, CNBC reported that inside sources said a private sector solution to AIG's situation is highly unlikely.
This morning the government is once again considering providing American International Group with some sort of financial support, according to investment banking sources involved in the meeting, but these reports are conflicted as sources say that Treasury Secretary Hank Paulson's statements made on Monday regarding no federal bailout still stand.
Published on September 16, 2008
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