AIG bailout puts feds in PMI business 

The bailout of insurance giant AIG International Group Inc. also makes taxpayers majority owners of a company that insures mortgages guaranteed by Fannie Mae and Freddie Mac, companies placed under government conservatorship on Sept. 7.

The Federal Reserve announced late Tuesday that it would lend up to $85 billion to AIG in exchange for an 80 percent ownership interest in the company.

more...

To view this premium content sign in to your Premium Member account.

Premium Members have full access to all news archives & premium content.

Purchase Premium+ Membership for $99/year OR
Premium Membership for $49/year

Buy Now

Advertise with Inman

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.