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Thursday, February 26, 2009


AIG talks with U.S. authorities about possible breakup
American International Group is in advanced talks with U.S. authorities regarding a "controlled breakup" that would see the insurer split into at least three divisions, which would be government-controlled, sources said. The restructuring, which could be the end of AIG as a standalone insurance conglomerate, might provide a blueprint for splitting other troubled firms. Financial Times (25 Feb.)

Obama asks Congress for health care fund of $634 billion
U.S. President Barack Obama included a $634 billion reserve fund in his budget proposal as a "down payment" on health care reform. Also in the budget are many policy changes that the Obama administration said would improve the quality and efficiency of health care. The Washington Post (26 Feb.)

Existing-home sales drop 5.3% from December to January
The National Association of Realtors reported that sales of previously owned homes dropped 5.3% from December to January to a yearly rate of 4.49 million. This marks the slowest rate in more than 10 years. Compared with January 2008, sales were down 8.6% last month. The New York Times (25 Feb.)

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