WASHINGTON - Another day, another bailout. The U.S. government stepped in Tuesday to rescue American International Group Inc., one of the world's largest insurers, with an $85 billion injection of taxpayer money.

It was the second time this month the feds put taxpayer money on the hook to rescue a private financial company, saying its failure would further disrupt markets and threaten the already fragile economy.

AIG said it will repay the money in full with proceeds from the sales of some of its assets.

Under the deal, the Federal Reserve will provide a two-year $85 billion emergency loan to AIG, which teetered on the edge of failure because of stresses caused by the collapse of the subprime mortgage market and the credit crunch that ensued. In return, the government will get a 79.9 percent stake in AIG and the right to remove senior management.


-http://sg.news.yahoo.com/ap/20080917/tbs-aig-f8250da.html




oo wah. if aig fell, no more kit for man utd! then their shirt will be like west ham's! sponsorless!



physics mcq tommorow. gta go flip through the formulas. but after playin bball i have totally no mood to even touch my book. bugger..



hahaa and a declaration:

VEGGIES SUCK.




lol.