Reply to: Preventing Financial Armageddon depends on saving AIG

[AlfredJPruffock]

Wall St. investment banks implode.
Government forced to nationalise World's biggest insurer.
Market reaction (DJIA) - goes up over 1%.

Is there any logic in the financial markets? I don't think so.

Yes because the market is always factoing the future potential of the market as well as the current situation.

[BrilloPad]

Is there any logic in the financial markets?

The same logic as a casino.

One of the main measures of option risk is vega. I am never sure if that is as in Las Vegas or vaguer?

[GreenerGrass]

Wall St. investment banks implode.
Government forced to nationalise World's biggest insurer.
Market reaction (DJIA) - goes up over 1%.

Is there any logic in the financial markets? I don't think so.

If they hadn't saved AIG the markets would have dropped 5%.

[ace00]

Wall St. investment banks implode.
Government forced to nationalise World's biggest insurer.
Market reaction (DJIA) - goes up over 1%.

Is there any logic in the financial markets? I don't think so.

[chef]

we're saved well sort of

http://news.bbc.co.uk/2/hi/business/7620127.stm

"The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy."

[AlfredJPruffock]

By most accounts they need $80 billion within the next 2 days.

Not going to happen IMO. And yes, it's going to get very messy.

I can lend them a fiver till Friday ;need it back pronto like - otherwise I''ll send the boys round.

[PRC1964]

Could happen, all it needs is a few panicked customers to start withdrawing and a run on the bank will follow.

A friend of mine found he couldn't move more than 30k out of his IF (HBOS) account today.

If you can't get your money it does make you wonder.

[Diestl]

Will be an announcement at 6EDT.

[realityhack]

Oo - US govt may nationalise (conservatorship arrangement) AIG.
News just broke across Bloomberg wire. There's a surprise.

Looks like it'll be alright then.

[Diestl]

Don't talk bollocks!

Churchill - In "Spreading his cash around in 30k chunks" - mode!

Could happen, all it needs is a few panicked customers to start withdrawing and a run on the bank will follow.

[Churchill]

They are going to declare themselves bankrupt tomorrow apparently. HBOS will follow by Thursday, after that who knows?

Don't talk bollocks!

Churchill - In "Spreading his cash around in 30k chunks" - mode!

[Diestl]

They are going to declare themselves bankrupt tomorrow apparently. HBOS will follow by Thursday, after that who knows?

[Churchill]

Can I swap it and be a millionaire?

Dont tell the gf or I am going to have my nads removed!

Money doesn't buy happiness. It only makes being miserable such a comfortable place to be...

[BrilloPad]

Yeah mate, but you're lucky in love!

Can I swap it and be a millionaire?

Dont tell the gf or I am going to have my nads removed!

[Churchill]

I am sure if we have a whip round it should be no problem. I thought everyone on here was a millionaire - except me!

Yeah mate, but you're lucky in love!