聯儲局出手打救AIG

今朝六點幾鐘返到辦公室打開電視機以及電腦﹐頭條新聞就係美國聯邦儲備局決定透過紐約聯邦儲備銀行(The Federal Reserve Bank of New York)打救美國國際集團(American International Group)﹐向AIG提供850億美元的貸款，更罕有地以倫敦銀行同業策息(LIBOR)的利率11.31%來計算﹐並且獲得AIG接近八成的股權﹐一夜之間美國政府成為AIG的大股東。也即是﹕美國以及全球的保險業變相地由美國政府話事﹗

雖然有市場人士認為，美國政府再度出手令眼前一個不明朗因素得到解決，但對經濟表現幫助不大。 不過如果俾AIG破產﹐美國以至全世界都唔惦﹗撇開簡單如個人保險唔講﹐AIG做好多“大刁”﹐包括為銀行業務、石油公司在海上的鑽油臺設施、航空公司的飛機﹐美國人買的彩票(lottery)彩池﹐以及荷李活電影製作承擔風險。如果AIG收皮﹐仲有變間保險公司有份量可以擔保﹖AIG破產將影響各行各業﹐不單只美國﹐更會影響全世界﹐到時就真係會見到全球的經濟衰退。今次聯儲局出手打救﹐只許成功﹐不許失敗。現任聯儲局主席伯南克(Ben S. Bernanke)係研究美國經濟大蕭條的學者﹐希望佢真係“學有所用”, 知道自己應該要做D乜喇﹗

聯儲局聲明全文﹕
http://www.federalreserve.gov/newsevents/press/other/20080916a.htm

Release Date: September 16, 2008

For release at 9:00 p.m. EDT

The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under section 13(3) of the Federal Reserve Act. The secured loan has terms and conditions designed to protect the interests of the U.S. government and taxpayers.

The Board determined that, in current circumstances, a disorderly failure of AIG could add to already significant levels of financial market fragility and lead to substantially higher borrowing costs, reduced household wealth, and materially weaker economic performance.

The purpose of this liquidity facility is to assist AIG in meeting its obligations as they come due. This loan will facilitate a process under which AIG will sell certain of its businesses in an orderly manner, with the least possible disruption to the overall economy.

The AIG facility has a 24-month term. Interest will accrue on the outstanding balance at a rate of three-month Libor plus 850 basis points. AIG will be permitted to draw up to $85 billion under the facility.
The interests of taxpayers are protected by key terms of the loan. The loan is collateralized by all the assets of AIG, and of its primary non-regulated subsidiaries. These assets include the stock of substantially all of the regulated subsidiaries. The loan is expected to be repaid from the proceeds of the sale of the firm’s assets. The U.S. government will receive a 79.9 percent equity interest in AIG and has the right to veto the payment of dividends to common and preferred shareholders.