AIG Rescued By Fed

Federal Reserve Aig Federal government agrees to rescue AIG and a British bank will buy Lehman Brothers.

by WKRG Staff

Published: Tue, September 16, 2008 - 9:10 pm CST Last Updated: Tue, September 16, 2008 - 9:13 pm CST

(AP) The federal government has agreed to provide an 85-billion-dollar loan to rescue American International Group. The Federal Reserve says a "disorderly failure" of AIG could hurt the already shaky financial market. According to the Federal Reserve, the U.S. Treasury Department is in full support of the deal.

Across the pond, Britain's third largest bank, Barlclays, says it has agreed to acquire Lehman Brothers' North American investment banking and capital markets businesses for 250-million-dollars in cash. Lehman Brothers filed for bankruptcy protection Monday.

WKRG.com » News Stream » Consumer

Photo

The Associated Press

WKRG.com Related

Discuss this in the forum

Email to a Friend

Printer Friendly

claycitymadness Says:

Wed, Sep 17, 2008 at 7:43 am

i strongly agree carl. one of the presidentail candidates said something very similar yesterday, in direct opposite to what the other one said. for too long there have been bad decisions made in the boardrooms that enriched a very few at the expense of the taxpayers, its time for these guys to face the consequences of thier actions. its paraphrased of course but mostly acurate i think.

carl Says:

Wed, Sep 17, 2008 at 5:35 am

When are we going to stop bailing out these large corporations with the tax payers money,and not go after the CEO’s and other top people in them who have raked in hundreds of millions of dollars for pay and walk away smiling while leaving the bill for the tax payers. Take their money away and let them live on Social Security like most of the rest in the country. Where is Justice ?