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12/25/2008 News For: aig Annuity AccessGM becomes a bank to gain access to more funds General Motors GM has gained access to billions of extra dollars in US Government assistance when the Federal Reserve approved an application for the struggling car maker's finance arm to become a bank. AIG sells another $16 billion of CDOs NEW YORK?American International Group Inc. has sold an additional $16 billion in collateralized debt obligations to a special purpose vehicle backed by the Federal Reserve Bank of New York, the insurer said Wednesday. GMAC gets Fed's OK to become bank holding company GMAC LLC won U.S. approval on Wednesday to become a bank holding company, giving it access to government lending programs and helping it stave off bankruptcy. Free museum access offered Bank of America's Museums on Us program makes it possible to stick to New Year's resolutions to spend less and experience more culture. The first weekend of each month, more than 70 leading cultural institutions across the United States, including museums, historical sites and science centers, open their doors for free to Bank of America cardholders. UPDATE 1-Fund acquires $16 bln in debt guaranteed by AIG NEW YORK, Dec 24 Reuters - A fund established by the Federal Reserve Bank of New York and insurer American International Group acquired an additional $16 billion of bonds guaranteed by the troubled company, AIG said on Wednesday. (AFX UK Focus) 2008-12-24 15:52 UPDATE 1-Fund acquires $16 bln in debt guaranteed by AIG NEW YORK, Dec 24 Reuters - A fund established by the Federal Reserve Bank of New York and insurer American International Group acquired an additional $16 billion of bonds guaranteed by the troubled company, AIG said on Wednesday. The company, bailed out by the U.S. government in September, said it has torn up its guarantee of the bonds. The fund, Maiden Lane III, was created to buy ... Can China be safe haven for sports amid global crisis? When the global economic downturn hit, sports did not escape unscathed. American insurance giant AIG, the shirt sponsor of Manchester United, went bankrupt in the global financial upheaval, leaving the England powerhouse feeling the heat. Pundits have warned that a top English club may face closing down as English football has amassed debts of around three billion pounds 5.2 billion U.S. ... |