After daily news stories, a documentary referencing AIG being released today in theaters around the country and rumors constantly circulating about just how much assistance AIG received from the government, AIG thinks it’s time to set the record straight.
The insurer released a statement in which it announced the U.S. government provided support to AIG in several forms: direct equity investments in AIG, loans to AIG, the extension to AIG of a mostly untapped equity capital facility, access to a commercial paper funding facility and loans to special purpose entities formed by the Federal Reserve Bank of New York (FRBNY). The loans to these special purpose entities are to be repaid by those entities, and not by AIG, from the proceeds of the assets owned by those entities.
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