Tonight, there's another shock to the U.S. markets. We're awaiting a news conference on a deal to save the nation's largest insurance company, American International Group. The federal government is giving AIG an $85 billion loan that gives the Federal Reserve a nearly 80% equity interest in the company. The move will help AIG avoid bankruptcy.
If you're keeping track (and I know this is complicated) the Federal Reserve opted not to help Lehman Brothers avoid bankrupty yesterday. So, why would it help AIG? We'll break it down for you tonight. Though, here's a hint why: AIG has $1.1 trillion in assets and 74 million clients in 130 countries, along with 116,000 employees worldwide.
Tonight, we'll also talk with personal financial expert Suze Orman about how this could impact your bank account. She'll offer some advice.
We're also on the trail with Senators John McCain and Barack Obama. Hear what they said today about the Wall Street crisis.
And, we'd love to know what you think: Should the federal government be helping companies like AIG avoid catastrophic failure?
Join us tonight at 10pm ET for the breaking developments.
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
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