Support the news

Rep. Frank, on Economic Turmoil

This article is more than 12 years old.

The US government has decided to bail out American International Group. After talks last night, the Federal Reserve emerged with a bridge loan of $85 billion for the floundering insurance giant. In exchange, the Fed would get an 80 percent stake in AIG.

This rescue package is the latest turn in a tale of woes on Wall Street, most recently preceded by Lehman Brothers bankruptcy, the Merrill Lynch sale, and the government's seizure of Fannie Mae and Freddie Mac.

Where is it all heading? And how involved should the government be?

WBUR's Bob Oakes puts those questions to Massachusetts Congressman Barney Frank, who chairs the House Financial Services Committee.

This program aired on September 17, 2008. The audio for this program is not available.

Bob Oakes Twitter Host, Morning Edition
Bob Oakes has been WBUR's Morning Edition anchor since 1992.


Support the news