Who insures the insurance company?
Just a few hours ago, it was announced that the Federal Reserve would be used to bail out AIG from certain doom. Had it not done so, the chain reaction of AIG not being able to pay off all the insurance claims would’ve caused a chain reaction in the economy. Several insured investments would be in the process of reappraisal, and certain values will be lost.
Although this helping hand is just a loan, it’s a big deal — and most likely a chance for everyone to get their finances set straight. What a crazy insured/non-insured time we live in.
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