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News about AIG again dominated the headlines, as the carrier renegotiated its federal bailout loan, reported a third-quarter loss of $24.5 billion and denied that its property-casualty carriers are recklessly cutting prices to maintain market share, or that its life insurance subsidiaries are still splurging for lavish producer junkets.

The biggest development was the announcement of new government credit arrangements to give American International Group access to as much as $150 billion in federal funds, three more years to repay its loans, and substantial cuts in interest rates.

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