AIG and US Banks in trouble

September 5th, 2008 No Commented

Categorized Under: Finance

After the collapse of Lehman Bros few months back, it is the turn of the largest Insurance company in the world I.e, American Insurance Group and two other major US banks to cry for government support. The US government cannot afford another major institutional collapse given the massive negative impact of Lehman Bros collapse. These institutions are seeking financial infusion worth several billion dollars which the government is likely to accede in the coming days. Experts tracking the industry say that more financial aid might be needed for the same institutions few months down the line due to the continuing housing price and stock market collapse.

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