Tuesday, September 16, 2008

AIG to get loan

World's largest insurance company AIG will get a bridge loan of 85 billion from gov to help it survive. The situation is worse every day as Wall Street tries to digest even more bad news. Mortgage meltdown is now affecting insurance companies and threatens to take down the whole financial macroeconomic infrastructure with people's money on the line. Already the FDIC is having to borrow money from the treasury.

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