The United States Federal President Bush says US economy can withstand financial market turmoil ...
Nowitzki Named German Flag-Bearer in Olympic Opener ... Reserve has injected 50 billion dollars of liquidity to help the financial markets, a day after Wall Street giant Lehman Brothers filed for bankruptcy.
The announcement followed similar action by other central banks to contain fears of a global meltdown in the banking sector. Meanwhile AIG, the World's largest insurance company, reportedly has sought a massive emergency loan to head off its own crisis. The Wall Street Journal reported that the US Federal Reserve was backing a plan to raise an emergency 75-billion-dollar credit for AIG. Shares in the company fell sharply in early trading on the US Stock Exchange, down more than 60 percent as investors grew increasingly pessimistic that AIG would find funding to avoid a liquidity crunch.
(Deutsche Welle)
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