AIG lost 60% of it's value today, Lehman went bankrupt and Merryl Lynch is sold to BofA. I dont even know why they are calling us back.. Any news on Air China transaction ?..
updated 9:30 p.m. ET Sept. 16, 2008
NEW YORK - In a bid to save financial markets and economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined that a disorderly failure of AIG could hurt the already delicate financial markets and the economy.
The Fed will never let AIG down. AIG will recover eventually, because there is simply no other choices. AIG is one of the first insurer in the world. The economy cannot do without it.
An AIG bankrupt is close to impossible.