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The federal government announced this morning that it will pump another $40 billion into the still-hemorrhaging AIG by purchasing newly issued preferred shares through the Troubled Asset Relief Program. AIG also announced this morning that it lost $24.47 billion last quarter. The government also revised the terms of its initial loan, and the taxpayer tab for the revised bailout now stands at $150 billion. We have updated our bailout chart accordingly.
This story can be found on the web at the following address:
http://www.propublica.org/article/history-of-govt-bailouts-updated-111008/
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