"Newt, what do you think the chances are of the Stimulus Bill succeeding?"
"If you put water in the freezer how long will it take to boil so you can make coffee."
Q: How much money has the government given AIG?
A: On the brink of failure in September, AIG was bailed out when the government offered it an $85 billion loan during the ongoing credit crisis that saw Lehman Brothers Holdings Inc. file for bankruptcy protection and Merrill Lynch & Co. get sold to Bank of America Corp.
Less than a month later, the insurance giant received an additional $37.8 billion loan from the Federal Reserve, and later was granted the ability to access up to an additional $20.9 billion under a new program where the Fed would buy commercial paper — short-term debt often used for day-to-day expenses — from the company.
In November, the U.S. government restructured its loans to AIG, giving the company about $150 billion in total as part of a rescue package to help the company remain in business amid the worsening credit crisis. That package replaced earlier loans after it became apparent the insurer needed more funds.
Update seconds after I posted.
Reporting from Washington — Federal officials tossed American International Group another financial lifeline today, providing up to $30 billion more to help the staggered insurance giant deal with a record $61.7 billion loss in the final three months of last year.
In this case alone, the American taxpayer is on the hook for $180 Billion to AIG.
This is only one company among dozens!