Tuesday, September 16, 2008
AIG RIP [Jim Manzi]
This is pretty incredible. It sounds like the deal is not closed, but is expected to close very shortly.
Hopefully the Fed is basically providing some kind of a short-term bridge for the private deal to take over AIG that has apparently been in negotiations for some time. Failing that, hopefully they can engineer some solution that wipes out the stockholders and bondholders, but contains the counterparty risk.
09/16 09:15 PM
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