AIG is on fire; market cap now US$6.5B

Good morning!

     Price Change Percent Market Cap
AIG   2.45  -2.31  -48.53      $6.5B

Right now, everyone is just waiting to see what, if anything, the Fed does.

Still in process, but...

This is still in process, but it looks like the Fed is semi-nationalising AIG. It's not a true nationalisation since the Fed isn't quite the government, and isn't the treasury, but it looks awfully familiar. 80% ownership in exchange for US$85B in "loans."

I'd say "more to come" but I've got meeting tonight so can't; you're on your own.

cylon-unoccupied

Meanwhile, back on Caprica...