Amarillo Employer AIG asking for another bailout - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Amarillo Employer AIG asking for another bailout

Amarillo employer and troubled insurer American International Group INC. could receive up to $30 billion in additional federal funding.

Insiders say the extra money is part of a revamped Federal Government bailout plan that will see the Federal Reserve take stakes in two international units.

The new deal calls for the Treasury and the Federal Reserve to provide fresh capital from the government's troubled assets relief program, or TARP.

The funding would mark the fourth government rescue of AIG since September.

The company is expected to announce $60 billion in quarterly losses later on Monday.

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