Economy Feb 03

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AIG and Credit Default Swaps: A Clarification

Paul Solman answers questions from NewsHour viewers and web users on business and economic news most days on his Making Sen$e page. Here's Thursday's query: Name: Merritt Dunn Question: Since the Treasury Department bailed out AIG and…

Economy Feb 03

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AIG and Credit Default Swaps: A Clarification

Name: Merritt Dunn Question: Since the Treasury Department bailed out AIG and AIG had underwritten a large number of credit default swaps (that I understand pay up if a certain percentage of mortgages in a portfolio go into foreclosure), then…

Economy Mar 01

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AIG to Sell Asian Unit for $35.5 Billion to UK’s Prudential

Embattled insurance giant AIG will sell its Asian life-insurance unit, AIA, to British insurance firm Prudential in a deal estimated at $35.5 billion. The deal will make Prudential the biggest insurance provider in several Asian countries, including Singapore, Malaysia, Indonesia,…

The U.S. government would be given broad new powers to shrink financial firms deemed "too big to fail" and shift the cost of rescuing troubled companies from taxpayers to other large firms, according to draft legislation released Tuesday.

Editor’s note: All this week on the Business Desk, we’ll be featuring contributions from economists, financial journalists, and other experts on the origins and impact of the financial crisis. Today, nearly a year after the collapse of Lehman Brothers…

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