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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Skywatcher who wrote (81072)	9/16/2008 5:58:42 PM
From: Qualified Opinion	Read Replies (2) \| Respond to of 94695

No federal power for AIG conservatorship -source Tue Sep 16, 2008 5:36pm EDT AIG shares drop on media report Futures fall on report conservatorship eyed for AIG Trading will never be the same.WASHINGTON, Sept 16 (Reuters) - A U.S. government source said on Tuesday that no federal agency has legal authority to place troubled insurance company American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) under conservatorship. Late on Tuesday, Bloomberg News reported that one option of U.S. authorities was to put AIG under control of a conservator, as the government did earlier with mortgage finance companies Fannie Mae and Freddie Mac. Insurance companies, however, are typically regulated by states, not by federal agencies, so legal authority to put AIG under conservatorship doesn't rest with federal authorities, the source said. (Reporting by Glenn Somerville; Editing by Leslie Adler) Link: reuters.com