"AIG Bails Out $2.2 Billion Nightingale Finance SIV"

Jan 23 08

"AIG Bails Out $2.2 Billion Nightingale Finance SIV" writes Bloomberg. The story says, "AIG follows Citigroup Inc. and HSBC Holdings Plc in financing their SIVs after the collapse of the U.S. subprime mortgage market caused prices of their assets to decline and triggered concern that fire sales would further roil credit markets. SIVs ... use short-term borrowing to invest in higher-yielding securities." Also, see Bloomberg's "Money-Market Rates in Dollars Plummet Most Since 2001".

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