Friday, July 31, 2009

GOING GOING...

BANZAI7 NEWS--Moody's Investors Service downgraded two American International Group Inc. (AIG) lending units to the brink of junk territory, saying that without support from the insurance giant, both would already be speculative grade.

The ratings agency lowered American General Finance Corp. and International Lease Finance Corp. by one notch each to Baa3 and their ratings were put on review for further downgrades.

The idea that AIG asset sales will repay the billions that saved Goldman Smith et. al. is becoming more remote by the minute.
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