The US Federal government (aka “US taxpayers”) bailed out American International Group (AIG) to the tune of $85 Billion on September 16. The bailout occurred in the form of a loan (at 11%) to the company which has made such bad decisions with their own money.
Less than a week later, a group of AIG [...]
The Federal Reserve Board has proposed rules to prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances.
Highlights of the Proposed Rules Regarding Credit Cards and Overdraft Services:
http://www.federalreserve.gov/newsevents/press/bcreg/highlightscredit20080502.htm
The press release and request for public comments is here:
http://www.federalreserve.gov/newsevents/press/bcreg/20080502a.htm
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