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.
Full Story: Government bails out AIG with $85 billion loan (AP)
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The move was similar to government's seizure on Sept. 7 of mortgage giants Fannie Mae and Freddie Mac, where the Treasury Department said it was prepared to put up as much as $100 billion over time in each of the companies if needed to keep them from going broke. Both moves were bound to raise questions about the use of taxpayer money to bail out private firms.Full Story: Government bails out AIG with $85 billion loan (AP)
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