western world. paulson, bernanke, tim geithner, they saw the risk that this could be not just a fire that would burn wall street down, but that could burn down our economy and burn down the world economy. it is uncle sam to the rescue, but oh, what a price tag. the federal government is saving insurance giant aig from possible collapse with an $85 billion loan, all of it your money. the move was designed to calm and bring stability to the financial markets. did it work? maybe down the road, but not today. another anxiety attack on wall street, even after the aig bailout, the dow tumbled another 450 points. in your 30 years of being down here, have you ever seen a market like this? no, never. hank paulson and ben bernanke are working very hard, but it doesn t feel as if they re in control, and that s very, very unsettling. inferior phone detected.
the risk that this could be not just a fire that would burn wall street down, but that could burn down our economy and burn down the world economy. it is uncle sam to the rescue. but oh, what a price tag. the federal government is saving insurance giant aig from possible collapse with an $85 billion loan. all of it your money. the move was designed to calm and brink stability to the financial markets. did it work? maybe down the road, but not today. another anxiety attack on wall street even after the aig bailout the dow tumbled another 450 points. in your 30 years, have you seen the market like this? never. they are working hard, but it doesn t feel like they are in control and that s very unsettling.
system. as lehman brothers filed for bankruptcy protection just after midnight. with $613 billion in debt on its books, lehman is by far the largest bankruptcy ever in this country. while merrill lynch, the giant brokerage firm, sold itself to bank of america in order to save its own skin. as the merrill lynch deal was harm hammered out, word came late that insurance giant aig was also struggling to raise $40 billion to stay afloat. good evening and even congratulations. you are now the proud owner of a massive insurance company. the federal government steps in to rescue insurance giant aig to the tune of $85 billion. so many people within the industry, within the banking industry, tell me they have never seen anything like this. that was almost five years ago to the day, september 15th, 2008, the beginning of the financial disaster, a by-product of decades of deregulation and malfeasance, that threw the country and the world into complete panic. and as americans began to
the tsunami began this weekend. one of the worst days ever for the american financial system. as lehman brothers filed for bankruptcy protection just after midnight. with $613 billion in debt on its books, lehman is by far the largest bankruptcy ever in this country. while merrill lynch, the giant brokerage firm, sold itself to bank of america in order to save its own skin. as the merrill lynch deal was harm hammered out, word came late that insurance giant aig was also struggling to raise $40 billion to stay afloat. good evening and even congratulations. you are now the proud owner of a massive insurance company. the federal government steps in to rescue insurance giant aig to the tune of $85 billion. so many people within the industry, within the banking industry, tell me they have never seen anything like this. that was almost five years ago to the day, september 15th, 2008, the beginning of the
books, lehman is by far the largest bankruptcy ever in this country. while merrill lynch, the giant brokerage firm, sold itself to bank of america in order to save its own skin. as the merrill lynch deal was harm hammered out, word came late that insurance giant aig was also struggling to raise $40 billion to stay afloat. good evening and even congratulations. you are now the proud owner of a massive insurance company. the federal government steps in to rescue insurance giant aig to the tune of $85 billion. so many people within the industry, within the banking industry, tell me they have never seen anything like this. that was almost five years ago to the day, september 15th, 2008, the beginning of the financial disaster, a by-product of decades of deregulation and malfeasance, that threw the country and the world into complete panic. and as americans began to grow increasingly anxious about their finances, president bush famously told treasury secretary hank paulson, in h