March 2, 2009
Posted: 1530 GMT
The snow storm that blanketed much of the Eastern seaboard of the United States hit us pretty hard in Atlanta. Much of the talk in the office today is centered around how people spent their snowy Sunday.
Our producer Javier – weekending in South Carolina – had to drive back in a rented car after his flight home was canceled.. Now that's some Idesk dedication!
Anyway, back to business. Today, we will be focusing on the global economic crisis, with the largest quarterly profit dive in American corporate history courtesy of insurer AIG.
And the U.S. Government (i.e. the taxpayers) is giving the insurance giant another $30 billion in bailout money. In total, AIG has swallowed $163 billion in rescue funds. Isn't this the company that threw a lavish corporate party after its first bailout tranche last fall?
We'll also be discussing banking giant HSBC's results. Their quarterly profits took a nosedive and they're asking markets for more cash. Richard Quest will be reporting on the woes of Europe's largest bank at the I-Desk.
And the Dow under 7,000. We haven't seen this in over a decade. Stephanie Elam will bring us the market reaction.
Today's questions, though, centers around banking and insurance giants who have been receiving bailout money. Do you think AIG should continue to be bailed out time and time again? Should they just be allowed to fail?
Add a comment below and I may read some of your thoughts on the air today.
Hope you can join us.
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