Did you ever think you would see the day when American International Group was in such dire financial trouble that it would be forced to beg for a federal bailout to maintain its rating and perhaps its very solvency? That's the unfortunate situation that has arisen today, with millions of investors and policyholders holding their breath as Doomsday on Wall Street unfolds.
Meanwhile, the overall financial market meltdown, fueled by the subprime mortgage debacle, continues to widen and deepen. Lehman Brothers is likely to declare Chapter 11. Merrill Lynch will be taken over by Bank of America.
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