Market today

[GPK]

Financial taking a beating, as expected.

AIG down 58%
Lehman down 95%
Bank of America down 19%
Wash Mutual down 22%
Citigroup down 15%
Wachovia down 22%

[timmgirvan]

Not good news for sure...the nation(and the world) balance precariously on the whims of the Stock Excanges....mighty long way to fall.....almost makes me glad I'm not wealthy...almost

[Crown@club]

Rumor has AIG being sold around here.

[dalakhani]

Originally Posted by Crown@club

Rumor has AIG being sold around here.

The fed has already come out and said that it wouldnt back stop any deal involving AIG.

Who would want the contingent liability that comes with an insurer. Its not like you can book the losses and write them down. You wouldnt even know where your losses are yet.

But hey, if it gets done, that would be a huge deal.

And the market is tanking hard at the end of the day which makes me think that a huge bounce tomorrow isnt as likely.

Oil is dipping back under 94. People need cash and are dumping all long positions with any value.

[timmgirvan]

Originally Posted by dalakhani

The fed has already come out and said that it wouldnt back stop any deal involving AIG.

Who would want the contingent liability that comes with an insurer. Its not like you can book the losses and write them down. You wouldnt even know where your losses are yet.

But hey, if it gets done, that would be a huge deal.

And the market is tanking hard at the end of the day which makes me think that a huge bounce tomorrow isnt as likely.

Oil is dipping back under 94. People need cash and are dumping all long positions with any value.

wow..you're ambidextrous..I'm impressed

[dalakhani]

Originally Posted by timmgirvan

wow..you're ambidextrous..I'm impressed

Dont hijack this topic. To borrow a line from BTW:

Shhh...the grownups are speaking.