NYT: Fed's $85 Billion Loan Rescues InsurerWASHINGTON -- Fearing a financial crisis worldwide, the Federal Reserve reversed course on Tuesday and agreed to an $85 billion bailout that would give the government control of the troubled insurance giant American International Group.
The decision, only two weeks after the Treasury took over the federally chartered mortgage finance companies Fannie Mae and Freddie Mac, is the most radical intervention in private business in the central bank's history.
NBA star Doug Christie and his wife, Jackie, announce that they will purchase 3,000 shares of corporate stock to help with the AIG financial crisis.
"We encourage all our fellow men and woman [sic] to buy at least two stocks to help with the global economic crisis," said Jackie Christie. "We want everyone to step up and help in any way that they can. This is a huge crisis we face, but together we can make a difference. Do not just sit by and watch."
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2 comments:
Dude. This is amazing. Pulitzer worthy. The NBA community's response to the Wall Street crisis. AMAZING.
Jesus H Christ in a chicken basket! I agree, totally amazing...I think I'm holding my stocks until I hear what 50 cent tells me to do.
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