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Feds Bail Out A.I.G

Media reports are casting the government's decision to effectively rescue troubled insurance giant AIG with an $85 billion loan in exchange for a close-to-80% stake in the company as a surprise move, an indication of the continuing peril and uncertainty in the financial sector. The Los Angeles Times calls the move "the largest single financial intervention in the nation's history and a measure of the depths of America's financial crisis." On its front page, the New York Times calls the government's move "the most radical intervention in private business in the central bank's history," a step taken "to avert a possible financial crisis worldwide."

The Washington Post calls the Fed's move "a stunning turnaround," while USA Today says it was a "stunning decision," coming "just days after the Treasury and Fed refused to bail out investment bank Lehman Bros., which filed Monday for the lar

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Added: Sep-17-2008 
By: Smegma
In:
News
Tags: A.I.G, AIG, Federal Reserve, Bailout, Corporate Wellfare, Socialism If Youre Wealthy!
Views: 8974 | Comments: 6 | Votes: 1 | Favorites: 0 | Shared: 1 | Updates: 0 | Times used in channels: 1
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  • More Bailout for the Greedy, the Mepublicon's have really trashed our economy, I don't know if anybody can stop this, but I do know McGoober can't, he don't even have a plan

    Posted Sep-17-2008 By 

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  • Comment of user 'OwenHiggins' has been deleted by author (after account deletion)!
  • Don't worry. The Palin gimmick has run it's course. Latest poll puts Obama in the lead by two points - http://www.reuters.com/news/globalcoverage/rzi

    Posted Sep-17-2008 By 

    (1) | Report

  • My firm's office is moving and the new space is a former AIG office. I asked the lease agent what happened to the AIG employees and he said he promised not to disclose any information on the business. I guess this explains evertyhing lol.

    Posted Sep-18-2008 By 

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