(AP) The federal government has agreed to provide an 85-billion-dollar loan to rescue American International Group. The Federal Reserve says a "disorderly failure" of AIG could hurt the already shaky financial market. According to the Federal Reserve, the U.S. Treasury Department is in full support of the deal.
Across the pond, Britain's third largest bank, Barlclays, says it has agreed to acquire Lehman Brothers' North American investment banking and capital markets businesses for 250-million-dollars in cash. Lehman Brothers filed for bankruptcy protection Monday.
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