To the Point
Could AIG Wreck the Global Economy?
American Insurance Group, the world's biggest insurance company, is getting history's biggest bailout. But where are almost $200 billion in taxpayer dollars ending up? The Federal Reserve told a senate committee today that going public could destroy AIG, putting at risk the world's financial system. We update the hearing and get the background. Also, “substantial doubt” about GM's ability to survive, and Russia and Iran are on the agenda as Hillary Clinton attends her first meeting of NATO.
By Warren Olney • • 1h 0m ListenAmerican Insurance Group, the world's biggest insurance company, is getting history's biggest bailout. But where are almost $200 billion in taxpayer dollars ending up? The Federal Reserve told a senate committee today that going public could destroy AIG, putting at risk the world's financial system. We update the hearing and get the background. Also, “substantial doubt” about GM's ability to survive, and new ties with Russia and mixed signals about Iran as Hillary Clinton meets NATO leaders in Brussels.
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In this episode
3 stories'Substantial Doubt' about GM’s 'ability to continue'
General Motors has borrowed $13.4 billion in taxpayer dollars and is asking for billions more. Today, in its annual report , it said there's “substantial doubt about our ability to continue as a going concern.” Daniel Howes is a columnist for the Detroit News .
Read the story6 minAIG, a Bottomless Pit for Bailout Money?
American International Group , the world's largest insurance company, got $150 billion in federal bailout money in the last quarter of 2008 and still lost $62 billion. The Obama administration has promised AIG $30 billion more.
Read the story35 minClinton Reaches Out to Russia, Iran at NATO Meeting
Secretary of State Hillary Rodham Clinton announced today she wants a high-level meeting on Afghanistan by the end of this month, convened by UN Secretary General Ban Ki-moon and including her counterpart from Iran. Today's announcement came during a meeting of NATO in Brussels. Tony Barber is Brussels Bureau Chief for the Financial Times .
Read the story8 min
