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Government announces $85 billion loan to save AIG
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micky0604
Posted: Mon Sep 22, 2008 1:12 am Reply with quote
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Washington - The US government has agreed to provide an $85 billion emergency loan to rescue the huge insurer AIG, the The Federal Reserve said Tuesday. The Fed said the US Treasury Department was in full support of the decision.The Fed determined that a "disorderly failure" of AIG could undermine already fragile financial markets.The US government will receive an 79.9 percent equity stake in AIG, the Fed said.
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