The news at a glance

ING Group: Reaching for a government lifeline; Energy: Exelon swoops down on NRG; Bailouts: AIG’s bonuses draw fire; Media: Is Redstone losing his grip on Viacom?; Wall Street: Peering into Lehman’s collapse

ING Group: Reaching for a government lifeline

Underscoring the rapid spread of the global credit crisis, the government of the Netherlands this week invested $13.4 billion in ING Group, a Dutch banking and insurance giant hit hard by real estate losses, said Dana Cimilluca and Carrick Mollenkamp in The Wall Street Journal. ING, which “just weeks ago was seen as a savior” for other struggling financial companies, saw its stock plunge last week after it announced a $670 million quarterly loss. The government investment in the form of nonvoting preferred stock, ING said, will create “a strong buffer to navigate the current market and economic environment.”

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