AIG has 8 weeks of cash left

At the rate troubled insurance giant AIG is bleeding cash, there are only about 8 weeks left before the well runs dry, according to Mark Tucker, CEO of Prudential PLC.

The difficult situation is exacerbated by the general turmoil in the financial markets as willing bidders for AIG assets are waiting on the sideline.

And what about the original $85 billion bailout fund?

“AIG is using the funds primarily for collateral obligations for the credit default swap portfolio and general corporate funding.” The additional $37.8 billion facility is being used by the securities lending program that AIG operates as part of fulfilling the normal cash needs of the life insurance companies.

As the credit markets are trying to free up liquidity, the fear of a general worldwide recession is growing and adding to the downward pressure on the world’s stock markets. This is hurting AIG by reducing values of collateral that AIG is shoring up with Fed cash. At the same time, the value of investment-grade bonds is dropping, reducing the ability of AIG to raise cash, even from the Fed. This is putting severe pressure on AIG’s ability to operate freely. …

AIG’s Joe Norton would not disclose the date that AIG will release the 3rd Quarter earnings report. If AIG announces that the results will be published on Nov. 4 or 5, perhaps taking a leaf from the political handbook, it could be seen as a sign of extremely bad news that could be covered overlooked by the excitement of the presidential election.

Global de-leveraging continues unabated.

Get those winter gardens in.

Packing Company Ms

{packing company}, {Pack} Package, ship, shipper, shipping, *Freights*, {Pack freight}, {delivery service}, {Expert Pack}, packing anything}, "Need something pack", Need boxes, What we will pack, {Package and Pack}

songzalists

The songs and tracklists to your favourite playlists

Kate Beth Heywood

Author of the savagely funny debut novel, Anti-Social Media

muktobatayon

WordPress.com

Esthers pearls

women find wisdom in words of inspiration and wealth

Skinny and Single

Single and Over 40 and What Do You Think Of My Ass?

Sexually Frustrated Girlfriend

Sexual Confessions of The Girl Next Door

Candyfloss Dreams and Cupcake Sleep

Family, Friendships and Fun

Hot Yoga and Pilates

"Most People Have No Idea How Good Their Body is Designed To Feel" - Kevin Trudeau

K.E. Wilkinson

This is a hypothetical question...

Bookshelf Battle

The only site where new bestsellers are forced to do battle for space on a nerd's bookshelf.

Dimitris Melicertes

I don't write, I touch without touching.

Fingerlike

My life is my big moment. Only if I had enough nerve to make that moment bigger.

man's modern life

Thoughts on living as a man in the 21st century

kamakawida

Everyday thoughts and life mysteries

My Day Out With An Angel

Where The Angels Meet To Post Messages

Follow

Get every new post delivered to your Inbox.

Join 596 other followers

%d bloggers like this: