THOUGHT FOR THE DAY!

"We are entering a new phase in human history -- one in which fewer and fewer workers will be needed to produce the goods and services for the global population."-- Jeremy Rifkin, economist

 

AIG fears cause securities trading to halt

Shareholders were left unable to trade popular commodity securities yesterday, due to fears over the future of their backer, AIG.

Banks and brokerages stopped making markets in the Exchange Traded Commodities (ETCs) backed by the troubled insurer and sold by ETF Securities (ETFS). The price of the stocks also plummeted due to the worries over AIG.

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