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September 15, 2008
Michelle McCarthy
Buffett, Berkshire Hathaway End Talks With AIG · After earlier reports that Warren Buffett and American International Group executives met over the weekend, Berkshire Hathaway is no longer in discussions with the troubled insurer "about an investment or anything else." (CNBC)
Ex-Citigroup CEO Prince Accepts New Post · While Wall Street braces for more layoffs, former Citigroup Chairman and Chief Executive Charles O. Prince begins a new tenure as vice chairman for Stonebridge International, a Washington-based consulting firm. (WSJ)
Crude Oil Tumbles $7, Hits Seven-Month Low · Crude oil declined more than $7 to a seven-month low of $94.13 per barrel as traders digested Lehman Brothers' bankruptcy and speculated that the worsening credit crisis will continue to slow the global economy. (Bloomberg)
Federal Reserve Expands Liquidity Facilities · The Federal Reserve will expand its existing liquidity facilities for securities firms in an attempt to mitigate disruption to the markets as Lehman Brothers prepares for bankruptcy. (Bloomberg)
AIG Seeks Investors, Plans $20 Billion Asset Sale · American International Group Inc. seeks to sell an estimated $20 billion in assets and secure an additional $20 billion in equity from the buyout firms Kohlberg Kravis Roberts & Co., J.C. Flowers & Co. and TPG. (FT)