They didn't do it in for Lehman brothers or Merrill Lynch, but the Federal Reserve Board stepped in last night to stop insurance giant AIG from going under. The company is getting an $85-billion injection of taxpayer money as part of a government emergency loan. In exchange, the Fed will take an 80-percent stake in the company and the right to oust senior management.

Wall Street rallied around news the Federal Reserve Board would help keep AIG, the world's largest insurance company, alive.

Hurricane Ike is gone, but the Midwest is now dealing with its aftermath: severe flooding. Excess water is pouring into the Mississippi, Missouri and Meramec Rivers, posing serious risks to communities near St. Louis, Missouri. The Mississippi River is expected to crest on Wednesday night.

The House of Representatives passed a long-awaited energy bill late Tuesday night. The bill expands the areas open to offshore oil drilling, cracks down on subsidies for big oil companies, and provides incentives for renewable fuels. But, it's an election-year energy bill and it's not expected to become law.

They've made headlines every day this week, but bailouts and financial flameouts are a part of American history. The American colonies were bailed out by the French during the Revolutionary war, and then America bailed out the debt-plagued French king by buying Louisiana from him (so he could pay his war bills). The Takeaway looks at more notable American bailouts.

Nigeria is the fifth-largest supplier of crude oil to the United States. (The United States is Nigeria's biggest single export market.) Behind this lucrative business relationship, however, is a wild backdrop of conflict in Nigeria’s oil fields. The region is poor and undeveloped, but oil exports make Nigeria one of the richest countries in Africa. Militants pushing for a share of this oil wealth and environmental remediation have resorted to blowing up pipelines, taking foreign hostages and fighting government troops. Commander Fara Dagogo is a member of the biggest rebel group, the Movement for the Emancipation of the Niger Delta, or MEND. The commander talks with The Takeaway about why he is sabotaging his country’s oil production.

As of Tuesday night, the global insurance company AIG has a new lease on life. Federal Reserve Board officials have stepped in, something they didn't do for Lehman Brothers or Merrill Lynch, with $85 billion in taxpayer money to support the troubled insurance giant.

The markets are in turmoil and what do our presidential candidates have to say about it? Both campaigns have released new campaign ads responding to the state of the economy.

As the Shakespearean drama on Wall Street continues — with the chorus asking what (or who?) could be next — The Takeaway looks at the role of the Securities and Exchange Commission in setting the stage for the recent troubles.

Israel's ruling Kadima Party is holding an internal election today to choose a new leader. The party's previous leader, Ehud Olmert, announced his resignation over allegations of corruption and bribery. The two leading candidates are Foreign Minister Tzipi Livni, a relative moderate, and Transportation Minister Shaul Mofaz, a hard-liner and former general.

Food manufacturers are increasing the healthful properties of orange juice, chocolate, yogurt, peanut butter and countless other products by adding "nutraceuticals," foods (or part of a food) that provides medical or health benefits. Omega-3 oil can be extracted from fish and mixed in with orange juice. Antioxidants extracted from beets, carrots and bananas can be added to peanut butter. Is it really healthier, or is it just another strategy to open wallets a little wider with something new to shove down the gullet?

It's the second time this month that the federal government has put taxpayer money on the line to rescue a private-sector financial company. On Wednesday, European shares were trading higher.

topic:takeaway:economics topic:takeaway:markets topic:takeaway:economy topic:takeaway:region_north_america contributor:97220 contributor:97221

Today, the United States is reporting that four soldiers and an Afghan national have been killed in a bomb blast in Afghanistan. It happened as U.S. Secretary of Defense Robert Gates was visiting the country. He was there to meet President Hamid Karzai and express regret over recent civilian casualties at the hands of international forces.