The AIG BuildingThe corporate dominoes continue to fall this week as the federal government announced a plan to spend $85 billion to bail out insurance giant AIG.
The move comes after AIG failed to recieve a $40 billion bridge loan on Monday and it couldn't raise enough capital to avoid a complete failure, which many analysts speculated could send shockwaves throughout the economy.
What this means to you is that the economy is now officially the highest priority issue in the upcoming election. Expect to see more ads pertaining to the economy, and both candidates will start to make it a point to talk about what they can do to fix the mess.
Here is John McCain's take on what happened with AIG.
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