the buzz log

Congratulations! If you're an American taxpayer, you now own part of AIG. The insurance giant was bailed out by the United States government in an effort to keep the economy from having a total freak-out.

It's too soon to say if the bailout will assuage consumer fears, but it has sparked a tremendous amount of interest in the American International Group. Queries on "aig" soared 808% and related lookups for "latest aig news" and "aig bankruptcy" did the exact opposite of the company's stock price. 

Financial and consumer-centric blogs and papers are covering the story. Yahoo! News currently hosts one of the hottest articles on the Buzz, an in-depth look at the bailout. The New York Times explains that the takeover is the "most radical intervention in private business in the central bank’s history."

Salon.com asks how John McCain is connected to AIG, while Forbes details how the government rescue seems to be having a positive effect on the European markets. And for those wondering what the bailout means to Joe Sixpack, the Washington Post explains that taxpayers like you now own 80% of AIG's stock. So, hey, once again, congratulations!

Filed under: Business, Stock Market