The Associated Press is reporting that the Federal Reserve is authorizing another 38 billion dollars in loans for the troubled insurance giant, American International Group. The loans are to be backed by fixed income securities issued by AIG.
Below is a picture of the sumptious california resort where AIG executives ran up a nearly half million dollar bill at their corporate retreat immediately after AIGs earlier 85 billion dollar bailout. Among the itemized charges were expeditures for limousine service, spa visits and liquor.
