STEVE INSKEEP, Host: NPR's business news starts, as we so often do, with another financial bail out.</s>STEVE INSKEEP, Host: And the company being bailed out, as it so often is, is AIG. The Treasury and the Federal Reserve have announced a new bailout package for the insurance company, which is the fourth time the government has stepped in. The government fears a collapse of this global insurance colossus would be disastrous for the economy around the world. This new agreement restructures AIG's existing $150 billion bailout, and it involves another $30 billion of taxpayer money. The deal eases up on loan terms for AIG, and the company may have to break itself up. Also today, by the way, not coincidentally, AIG came out with its latest quarterly financial report, and the company says it lost nearly $62 billion in one quarter, which is believed to be the biggest quarterly loss in corporate history.
The Treasury and the Federal Reserve announced a new bailout for the troubled insurance company on Monday. It's the fourth time the government's stepped in to save AIG. The new agreement restructures AIG's existing $150 billion bailout. It involves another $30 billion of taxpayer money. AIG also announced its latest quarterly financial report. It lost nearly $62 billion dollars — the biggest quarterly loss in corporate history.