Monday, September 15, 2008

Brother, Can You Spare $70 to $75 Billion?

The Fed has asked Goldman Sachs and J.P. Morgan Chase "to help make $70-$75 billion in loans available to AIG." according to WSJ.

File under: Not going to happen.

AIG's shares closed down 61% at $4.76 at 4 p.m. Monday. The insurer's stock has lost 90% of its value so far this year.

-Robert Wenzel

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