On Thu, Oct 30, 2008 at 5:00 PM, John Williams
<[EMAIL PROTECTED]>wrote:

>
> Major newspapers are reporting on a financing crisis that is hitting
> many transit systems in the United States late this month. The situation
> is a result of (1) a series of leaseback transactions these agencies
> conducted which included heavy termination penalties, (2) federal policy
> first to encourage and then to discourage them, and (3) the collapse
> of insurer AIG.


Uh, how, exactly, did the government collapse AIG?

Nick
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