Noirwomannews’s Weblog

September 17, 2008

Another Financial Company in Trouble (AIG).

Filed under: Finance,Uncategorized — noirwomannews @ 4:23 am
Tags: , ,

AIG,one of the largest insurance companies in the world received a government bailout bridge loan in the amount of 85 billion dollars. The company has 70 million customers in a number of areas including insurance of businesses and individuals.

This big financial announcement comes off the heels of yesterdays news with Bank of America Corp acquiring Merril Lynch in a 50 billion dollar all stocks deal. This makes Bank of America second to the largest which is Citi Corp.

Topping off that news was the announcement that Lehman Brothers Holdings was filing bankruptcy as many employees were seen leaving the companies offices with their belongings in the standard I just got fired or I quit brown box. (Recent Reports say they have an offer from a potential buyer).

According to additional news reports Washington Mutual is also in trouble and could be reporting negative news soon. What’s next? With major companies facing financial disaster daily and 100,000 Americans unemployed.

Whatever the answer to our Countries financial problems are, I am sure most Americans welcome the solution. CHANGE is in order.

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2 Comments »

  1. from a historical standpoint it’s hard to object to the government’s mass bailouts since similar debt-producing methods were put into action to save the U.S. from the Depression; maybe we’ve been headed for socialism this entire time…

    Comment by kingdom media — September 20, 2008 @ 1:32 am | Reply

  2. That could be true, but someone has to take responsibility for the system, everyday people never benefit from mistakes made by big corporations and government. The rich get richer, the poor stay poor and hurt the most is our middle class which carries the weight to keep the economy going. Its scary when you look at the reality of our current economic position.

    Comment by noirwomannews — October 26, 2008 @ 6:52 am | Reply


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