Financial Briefs

Breaking financial news from Wall Street to Main Street

The Beginning Of The End Game…

Posted by financialbriefs on September 23, 2008

The U.S. financial system is being nationalised. The piecemeal approach which culminated with the AIG operation was clearly not working. The U.S. government had taken control of its biggest insurance company just two weeks after it had to save Fannie and Freddie, by far the world’s largest mortgage underwriters. All this was not enough to restore orderly market conditions, hence the U.S. political system is working over time to find a general solution whose outline is already apparent.

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