Credit crunch effects football

Posted on | September 15, 2008 | View Comments

Heard a few pals saying it will be time before credit crunch really effects us. Well if you are a Manchester United Fan you are not far from your biggest nightmare. AIG (American International Group), Manchester United’s biggest sponsor might follow after the collapse of Lehman Brothers.

World’s biggest insurer by market capitalization has incurred £10 billion in losses over the past three quarters from guarantees it wrote on mortgage derivatives.

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