I woke up this morning, and the sunrise came up a deep shade of red.In their latest bid to save the market from certain ruin, the Federal Reserve has committed $85 billion dollars over a 2-year period to bail out the crumbling insurance titan, American International Group (AIG). In return for this tax-payer chump change, the U.S. government will own 79.9 percent of the company.Thankfully, Treasury Secretary Paulson put his foot down on bank bailouts; hopefully putting an end to the notion that banks will be pulled[...]
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[Source: The Money Blogs]
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