Thursday, October 9, 2008

major junkie..

AIG hits up Fed for more money

looks like the SH*t is hitting the fan again... Those institutions are now returning these securities and want their money back.

Posted by mark @ 10:32 AM (441 views)
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3 thoughts on “major junkie..

  • also from CNN :-

    “French-Belgian bank aided again
    Governments to give Dexia a yearlong guarantee, a week after an $8.79 billion cash injection.

    BRUSSELS, Belgium (AP) — The governments of France, Belgium and Luxembourg announced Thursday they will give struggling lender Dexia SA a yearlong guarantee on its new loans and deposits, sending the company’s shares soaring.

    They announced the decision after Dexia’s shares fell three days in a row – by more than 15% on Wednesday alone — despite getting a €6.4 billion ($8.8 billion) cash injection from the three governments last week.

    Brussels traders welcomed the news with shares surging 18% in early Thursday trading. ”

    looks like a pattern is emerging

    ! ! ! “we will do whatever it takes” will our banks be back for more?

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  • Eternal Sceptic says:

    I take it the first bailout was to pay all the bonuses earned by bankrupting the company, and the second one is to make a pretense of doing something useful.

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  • AIG is selling parts of the company in order to repay the loan from the taxpayer. But who is going to buy those parts and how are they going to raise the money, and will AIG have to sell cheaply? Probably the taxpayer will indirectly subsidise these sales.

    A general law is emerging in this crisis: any institution which requires a bailout will require another bailout soon afterwards.

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