U.S. replaces original AIG rescue with $150 billion plan

11/10/2008 | CNBC · Wall Street Journal (free content), The

The U.S. government hammered out a plan on Sunday that replaces the initial $123 billion rescue plan for American International Group with a $150 billion rescue package. The new agreement, which is made up of a $60 billion loan, about $50 billion in capital to purchase troubled assets and a $40 billion preferred-stock investment, eases the terms for AIG, including a lower interest rate. The new deal could spark a battle between the Treasury and congressional Democrats over the Treasury's refusal so far to aid the Big Three automakers.

View Full Article in:

CNBC · Wall Street Journal (free content), The

Published in Brief: