12-16-2009, 05:56 AM
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CC Member
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Join Date: Jan 2004
Location: Gateway To The West,
Mo
Cobra Make, Engine:
Posts: 308
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Not Ranked
Our firm (we've taken no TARP money and are sitting on a significant pile of cash) made a bid for AIG's American investment and insurance operations several months ago. We were outbid by a firm that took TARP money so we walked away from the potential purchase (CEO said we couldn't outbid the US Government). A week or two later the firm that outbid us also walked away for their bid and shortly thereafter, AIG went back to the Fed's for about $32 Billion more in assitance. My favorite TARP story.
Feff
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