The United States Federal Reserve has announced an 85-billion-dollar bail out for troubled insurance giant AIG.
The deal is to save America's largest insurer from collapsing and gives the US government an almost 80 percent stake in the company. In a statement, the White House said President George W. Bush backed the decision in the interest of "promoting stability in financial markets and limiting damage to the broader economy." Earlier the Fed injected 50 billion dollars of liquidity into money markets to ease the turmoil that was triggered after Monday's collapse of giant investment bank Lehman Brothers. The US central bank also decided against lowering interest rates below the current level of two percent. The Fed said this was a unanimous decision due to concerns that such a move could endanger Venezuela plans Russia navy visit ...
Correspondent confirms Russian tanks in Gori ... growth and drive inflation.
(Deutsche Welle)
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