Hank Paulson and Ben Bernanke proved that they were not anarchists, willing to risk the financial system burning itself into a pile of ashes. Zeus-like, the Fed will bail out AIG (AIG)…
Douglas A. McIntyre The Fed rescued AIG (AIG), loaning the company $85 billion for two years in exchange for a 79.9% interest in the company. After allowing Lehman (LEH) to fail, the new arrangement with…
Douglas A. McIntyre According to Reuters, the federal government bailed out AIG (AIG) The Fed will loan the insurance company $85 billion for two years in exchange for a 79.9% stake. Reuters says that Barclays…
Markets in Asia were mixed The Nikkei rose 1.2% to 11,750. Mitsubishi UFJ Financial moved up in reaction to the Fed’s bailout of AIG. (AIG) The Hang Seng fell 2.2% to 17,899.…
Douglas A. McIntyre No one could quite get to the crash victim, and now it seems certain AIG (AIG) will not make it out of the wreck. After staging a rally during the day, AIG’s…
Constellation Energy Group (CEG) falls on fears of link to the Lehman bankruptcy. The company says no. The shares plunges to $13 from 52-week high of $107.97. Gatehouse (GHS) shows why it’s…
There is one critical aspect to the stock market that pertains to American International Group (NYSE: AIG) which has been given less coverage because of the media’s focus on the turmoil in…
AIG (AIG) shares are off 40% in pre-open, to $2.85.
Douglas A. McIntyre According to Reuters, the markets will now turn their attention to AIG (AIG) which is struggling to survive. Reuters report that the Fed will probably hold interest rates steady and signal a…
AIG (AIG) managed to lose 60% of its market value today. At one point the stock was off 70%. A partial rescue came in the form of permission from New York State…
The collapse of the stock market, particularly shares in large financial companies, will have immediate effects on small businesses. Now that it is clear the the government will not help large brokers…
After a savage day in which one Wall St. firm closed and another was sold, perhaps there might have been an evening’s respite. Lehman (LEH) has more than 25,000 employees, 20,000 of…
At one point Merrill Lynch (MER) was up to $22.68 because of Bank of America’s (BAC) buyout offer of $50 billion. Merrill closed at $17.05 on Friday. Wall St. is now so…
Lehman (LEH) is bankrupt. Its stock plunged to $.15 from $67.73. AIG (AIG) fears that it will be the next to fail. It drops to $3.50 from a 52-week high of $70.13.…
Covering financial stocks on a day like today is sort of like watching the Chinese ping pong championship. It’s all action, happens faster than most can see, and no one really knows…
