American International Group (AIG) could become the third major victim of the credit crisis in a week as it struggles to source additional capital to stay afloat.
According to Bloomberg, the insurer is seeking a loan of at least $US75 billion ($A94 billion) through Goldman Sachs and JPMorgan Chase & Co, after the Federal Reserve declined to provide it with funding.
AIG’s share price fell 61 per cent yesterday to $US4.76, ($A5.95) – a fall of 92 per cent for the year.
Today's other stories
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Mortgage Choice has announced that Citi’s former head of bankin...
The major bank has announced that it will extend the maximum loan...
Credit growth has waned as a result of a sharp drop-off in busine...