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Thursday, February 26, 2009

U.S. May Backstop AIG CDS

by Calculated Risk on 2/26/2009 02:37:00 PM

From Bloomberg: AIG Rescue May Include Credit-Default Swap Backstop

American International Group Inc. may get a backstop from the U.S. to protect against further losses on credit-default swaps, according to a person familiar with the matter.

The federal guarantees may be included in New York-based AIG’s restructured bailout ...
There you have it.

This will probably be announced Sunday night or Monday morning.