CHIP EAST/REUTERSNew York Governor David Paterson, with the state's deputy secretary for labor, Charlotte Hitchcock, and insurance superintendent Eric Dinallo, announced the bailout at a press conference yesterday. Full coverage of the financial crisis, C1.
(CHIP EAST/REUTERS)
Fed saves insurer with $85b loan
AIG was called too big to let fail
CHIP EAST/REUTERSNew York Governor David Paterson, with the state's deputy secretary for labor, Charlotte Hitchcock, and insurance superintendent Eric Dinallo, announced the bailout at a press conference yesterday. Full coverage of the financial crisis, C1.
(CHIP EAST/REUTERS)
The Federal Reserve will bail out insurance giant American International Group Inc. with a loan of up to $85 billion, taking an 80 percent stake in the struggling company. The rescue deal comes just days after the government refused to save investment firm Lehman Brothers Holdings Inc. from failure. (Full article: 1149 words)
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