AIG Breakup: $1 Billion Payday for Wall Street

    “””””AIG Breakup: $1 Billion Payday for Wall Street August 6, 2009 (ChattahBox)—According to an analysis conducted by the Wall Street Journal (WSJ) on Wednesday, Wall Street is poised to reap a $1 billion payday from the controlled breakup of insurance giant AIG. The government is seeking to recoup some of the more than $100 billion in federal bailout money awarded to the company to keep it from failing. With the federal government owning a 80 percent ownership stake in AIG, a multi-year plan controlled breakup plan would net Wall Street banks and lawyers nearly $1 billion in fees to help break up the giant company. According to WSJ, the fees for the AIG breakup represent one of the biggest bonanzas in Wall Street History. “”””” Any Comments? Anybody Interested? Hello Hello Hello…………Is anybody in there?
    Get breaking Coronado news in your inbox >> SUBSCRIBE