AIG at it again

I getting sick of it, are you? American International Group Inc, which has received more than $150 billion in taxpayer support since last September, has closed a deal to access nearly $30 billion in additional federal funds. So here we go again, bailing out AIG with our, our kids, and grand kids money.

In a filing with the U.S. Securities and Exchange Commission on Monday, AIG said it would issue and sell to the U.S. Treasury 300,000 preferred shares, including warrants to purchase common stock, in exchange for up to $29.835 billion.

The original amount agreed in early March was $30 billion, but officials subtracted $165 million in retention bonuses paid to employees of the AIG Financial Products unit last month.

Big deal! Treasury is right there on your side, saving us another $165 million. Don’t you just love those guys?