AIG saved
"The U.S. government stepped in Tuesday to rescue American International Group Inc., one of the world's largest insurers, with an $85 billion injection of taxpayer money. Under the deal, the government will get a 79.9 percent stake in AIG and the right to remove senior management.
The central bank also pumped $70 billion into the nation's financial system to help ease credit stresses. In emergency sessions over the weekend, the Fed expanded its loan programs to Wall Street firms, part of an ongoing effort to get credit flowing more freely."
Government steps in again, bails out AIG with $85B
As expected, the government wouldn't risk the fall of AIG. Can you imagine the impact? (think loss of jobs, rise of interest rate, collapse of more companies without financial backup)
The central bank also pumped $70 billion into the nation's financial system to help ease credit stresses. In emergency sessions over the weekend, the Fed expanded its loan programs to Wall Street firms, part of an ongoing effort to get credit flowing more freely."
Government steps in again, bails out AIG with $85B
As expected, the government wouldn't risk the fall of AIG. Can you imagine the impact? (think loss of jobs, rise of interest rate, collapse of more companies without financial backup)
Inscribed and endorsed by SeaWaLK at 9:55 PM
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