In SusanG's recent discussion with AIG's media relations guy I came across several disturbing discrepancies as to what I believed to be the "truth" on their humiliating bailout in September of this year.
The glaring one is when Peter Tulupman answered the very first question.
At what point will you consider yourselves "whole," and will you repay us with interest? I would like 18%.
No offense but 18% is laughable, however Peter's answer should be immediately forwarded to the Justice department:
We have a new credit facility from the Federal Reserve – our interest rate is LIBOR + 3%, which comes to about $3.6 billion a year in interest on this facility.
We’re also paying a fee of .75% on the undrawn portion of the facility.
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