Amid a wave of upheaval in the banking and mortgage industries, the insurance company American International Group (AIG) is attempting to stave off bankruptcy. On September 12, 2008, AIG's shares dropped 31%. In the wake of the Lehman Brothers bankruptcy of the following Monday, questions arose over the company's future, including rumors of possible bankruptcy.Guardian: Wall Street mauled by Lehman bankruptcy, AIG fears (September 15, 2008) Such consternation was quelled on September 16, 2008, when it was reported that the Federal Reserve would loan AIG $85 billion in exchange for an 80% stake in the company.The New York Times: Fed to Give AIG $85B Loan and Take 80% Stake(September 16, 2008)
