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AIG: Recipient of Largest-Ever Private Company Bailout

As was foreseen by experts last week, a restructuring of the government aid package provided for American International Group, Inc. was enacted today as it became apparent that the felled insurance giant would be unable to rise to the terms of the original $85 billion provided by the federal government. Citing the company’s interconnectedness with the overall well-being of the economy, the Fed approved additional aid which brings the total to more than $150 billion.

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