AIG Gets More Money, Agrees to Split Up

Submitted by Simon Rosenberg on 3/2/09

What the global financial system is going to look like in a few months is anyone's guess. From the FT:

AIG will on Monday announce a radical plan to break itself up after 90 years as a global insurance conglomerate by ceding control of its two largest divisions to the US government in exchange for a $30bn-plus lifeline.

The move, aimed at helping the stricken insurer absorb the blow of huge losses, is the third time in five months AIG has been bailed out by the authorities. Coming shortly after the third government rescue of Citigroup, the decision to save AIG could fuel mounting public anger.

Or as Jake wrote the other day, welcome to The Dukes of Moral Hazard. Be sure to read Joe Nocera's great piece about AIG from yesterday's NYTimes.

Is this now nationalization by another name?

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The financial crisis

Submitted by KaylynnM on 4/6/09.

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The financial crisis caused a lot of trouble here and
outside the country. The crisis is also affecting almost all of the lives on
this planet. From declining economies to foreclosures and layoffs, it made
every single day harder for those workers who earn lower than the minimum wage,
what more for those who just got laid off due to the economic crisis. There are
a lot of different financial emergencies that can present themselves, and if
you come up a bit short or you have bills that you won't be able to pay as a
result, you could look into payday loans.
Payday loans are short term, small amount loans that you take out and
pay back quickly, usually your next payday.
If you need a financial solution to an urgent situation, then payday loans could be what you are looking for.

http://personalmoneystore.com/moneyblog/2009/04/01/finances-stressing-payday-loans-save-day/