The Federal Reserve has just confirmed that the government has provided a "bridge loan with warrants" of between $85-$90 billion for ailing insurance mega-giant AIG! Details will be coming overnight. It is not being called a conservatorship, but looks very similar to the bailout of Fannie and Freddie last week.
The stock index futures were somewhat lower (Dow down about 40 points) this evening, but have rallied since, and the Dow is now more than 140 points higher. Wall Street always loves these bail-outs! After all, they are the beneficiaries!
The stock index futures were somewhat lower (Dow down about 40 points) this evening, but have rallied since, and the Dow is now more than 140 points higher. Wall Street always loves these bail-outs! After all, they are the beneficiaries!
