Released: November 10, 2008

Government to grant AIG larger bailout

Source: Carol Leonig, Washington Post (Free Registration)

The federal government today announced an expanded effort to bail out American International Group, including a partial government takeover of the company, as the troubled insurance giant disclosed massive losses over the past three months.

The new plan expands an existing government bailout program from $123 billion to $150 billion. But more significantly, it restructures the plan to include much less debt and instead provides direct government investment in the company. 

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