Current+Noah

Here are the articles: Topic: Insurance Company Downfall on Wall Street //Article 1:// [|FBI Investigation into Insurance bailout]

Summary: FBI is investigating Fannie Mae, Freddie Mac, AIG, and Lehman Brothers as to whether or not they were involved in a mortgage fraud. The investigation is in the early stages of development. There have been no charges made and there may not be according to an official. AIG was saved by government w/$85,000,000,000 loan earlier this week. Lehman filed for the largest bankruptcy in American history. Fannie and Freddie were bought out by the government.

What could this mean for the economy? What does this have to say about the value of the U.S. Dollar? What about our future as a country? Are we looking at another Great Depression?

//Article 2:// [|CNN AIG Article]

Summary: Congress mad b/c White House did not inform them of $85,000,000,000 bailout to AIG AIG put greed before responsibility. AIG made imature choice through bank loans and poor policy. Policy: Anyone can get a loan with a decent credit score; no proof of job or income needed to get loan. AIG wants to use taxpayer's money to help boost them. Lack of communication between Congress and Whitehouse. Democrats place economic downfall on Bush Administration b/c failed to "aggressively regulate the financial industry." White House says that congress could have intervened. CONGRESS NEVR KNEW!

Questions: Are we looking at another Watergate Scandal without Watergate? What does this mean for other insurance companies who are on Wall Street?

//Article 3:// [|CNN Market Crisis]

Summary: __Lehman Brothers:__ Stock share value declined 94% in past year. Filing for Chapter 11 Bankruptcy __Other:__ Bank of America bought Merrill Lynch as part of $50,000,000,000 all stock deal Supposed to close deal in 2009. Merrill Lynch lost 65% of stock value in past year: $17,000,000,000 in past four quarters! Deal will make Bank of america largest brokerage in the world w/2.5 Billion dollars in client assests

What will this mean for insurance in the future?

Noah: Good articles. Almost no summaries. Some interesting questions, especially on the first, but limited questions on the 2nd two articles. I’m beginning to see a pattern in your work of good beginning thoughts, but not enough expansion. Happens to lots of freshmen. It’s a skill I can help you learn. See me during X-block today, please. Mr. Albritton I’m putting a placeholder grade of C on this, but will change it when you complete the work. I don’t have your family’s email handy here. Please forward a copy of this to them and copy me, so I know it gets through.