U.S. Investment Bank Lehman Brothers Felt Down And Insurance Giant AIG Fights For Survival
The crisis in the American banking sector is affecting all world.The subsidiary companies of Lehman in Asia has already stopped its works. U.S. Federal Bank is trying for a new package of 7500Cr for helping AIG.Lehman Brothers going bankrupt could be digested and its repercussions fully understood,the markets faced an even larger crisis that loomed over America's largest insurance company AIG
EFFECTS AND PROBLEMS
* Stock market fall
* AIG faces struggle for existence
* High exposure to U.S.housing crisis
* I.T. stokes continued fall
* Asian markets tumble
* Australian and Japanese officials trying to keep market calm
* IRDA seeks status report from AIG
* Singaporeans rush to redeem policies
* Instability in oil prices (first decreased then increased)
* Gold price increased
* Affects Indian banking and deposits to India
* Affects I.T. companies in India(Wipro,Sathyam,Tata consultancy )
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