It looks like the government is ready and willing to take an ownership share in troubled banks. Treasury Secretary Henry Paulson says the $700 billion bailout would allow the government to give money directly to banks that request it
. That would give the federal government an ownership stake in those institutions.
Insurance giant AIG is asking the government for more money. Last month, the government loaned AIG $85 billion in an effort to keep the company from collapsing. AIG is asking for nearly $38 billion more from the government
to help shore up their books. The company plans to sell off some of it's subsidiaries to pay back the original loan, but experts say the economy could prohibit the company from selling those assets at a reasonable price. The newest request comes after revelations that executives with the company spent more than $400,000
on a retreat at a California spa.
Another large insurance company could give Wall Street heartburn. MetLife says their quarterly earnings will be down
from projections due to turmoil in the global market. The company says the plan to raise capital and cut jobs in response to the lower than expected earnings.