I agree, AIg holds the keys to the credit market. No more Insurance loans to the big boys, Banks will go out of business. Insurance rates will go sky high. This will start a downward trend that will take the Dow down to the 8000 level. It may take 3 to 4 weeks to start to see the problems it will cause. I would go to %50 cash. I do not own this stock, but sell insurance, mostly Aig
As it should. When stocks are cheap enough, investor will be willing to put capital in. Rather that get diluted at these levels, they will wait for lower prices. Then and only then will banks be able to attract capital.
Ridiculous...poor Greenberg, was on begging to get his $10 Billion back...Let it go belly up, just like lehman the scraps will be picked up and workers will be employed..the big money boys will get screwed and they deserve it.
more like 1,500. fed will pump huge sums and create false rally at first but waves of global selling will overwhelm them. a global recession will happen. and all the extra money in the system will produce inflation. the whole world will be in stagflation.