AIG May Need More Money, Says Chief

11/23/2008 05:12 am ET | Updated May 25, 2011
  • DealBook

American International Group may need even more money than the $122.8 billion that the federal government is loaning the company to avoid collapse, according to its chairman and chief executive, Edward M. Liddy.

Mr. Liddy said A.I.G.'s cash needs were tied to the fortunes of the capital markets. "To the extent they continue to go down and we have to keep posting collateral, as it's called, the vernacular in the industry, it's possible it may not be enough," he said.

A.I.G. has already drawn down at least $83 billion from the two credit lines that the government offered it.

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