Markets tumbling down

[SHELLY]

Dow futures as of 6pm -

DJ Industrials -55 6997

Here we go, two big reports out this week, both probably bad news.

...And another $30 Billion for AIG

-----------------------------------
American International Group will receive additional federal assistance of up to $30 billion as part of a revamped government bailout, according to several reports Sunday.

The new funding, the fourth government rescue of AIG [AIG 0.42 -0.10 (-19.23%) ] since September, is intended to support the New York-based insurer as it is expected to announce $60 billion in quarterly losses early Monday.

AIG's board approved the revised bailout Sunday afternoon, Reuters reported. Major credit rating agencies have already signed off on the deal. Without the support of the credit rating agencies, AIG would have faced crippling cuts to its ratings.

Once one of the world's largest insurers, AIG has already received $150 billion in loans from the government. In return the government has taken an 80 percent stake in the insurer.
---------------------------------------------------------

How many of us have Florida Homeowner's Policies that's backed by AIG?

.

 

[Mango]

Dow futures as of 6pm -

DJ Industrials -55 6997

Here we go, two big reports out this week, both probably bad news.

Below 7000, psychologically, there will also be a massive sell off, not to mention the reports.

 

[Capricious]

Below 7000, psychologically, there will also be a massive sell off, not to mention the reports.

But then, at some point, people start to think, "this stuff is getting
pretty cheap..."


The fun part is trying to find that point.





Capricious





"The public is just as blind in recognizing the bottom of a depression as it is in recognizing the top of a boom. While there is no ladder that reaches to Heaven, the ladder that reaches all the way down to Hell in a country like America is just as fantastic."
(John Loeb)

 

[30ashopper]

How many of us have Florida Homeowner's Policies that's backed by AIG?

.

Good lord, never even considered that. How would you know, would it be in your policy contract?

 

[Miss Kitty]

But then, at some point, people start to think, "this stuff is getting
pretty cheap..."


The fun part is trying to find that point.





Capricious





"The public is just as blind in recognizing the bottom of a depression as it is in recognizing the top of a boom. While there is no ladder that reaches to Heaven, the ladder that reaches all the way down to Hell in a country like America is just as fantastic."
(John Loeb)

Well, believe it or not, you just made me feel better about not selling everything! Cause, after it is all said and done, I won't be able to afford to buy any stocks!

 

[AAbsolute]

...And another $30 Billion for AIG

-----------------------------------
American International Group will receive additional federal assistance of up to $30 billion as part of a revamped government bailout, according to several reports Sunday.

The new funding, the fourth government rescue of AIG [AIG 0.42 -0.10 (-19.23%) ] since September, is intended to support the New York-based insurer as it is expected to announce $60 billion in quarterly losses early Monday.

AIG's board approved the revised bailout Sunday afternoon, Reuters reported. Major credit rating agencies have already signed off on the deal. Without the support of the credit rating agencies, AIG would have faced crippling cuts to its ratings.

Once one of the world's largest insurers, AIG has already received $150 billion in loans from the government. In return the government has taken an 80 percent stake in the insurer.
---------------------------------------------------------

How many of us have Florida Homeowner's Policies that's backed by AIG?

.

Hank Greenburg has lost a ton in all of this, BUT he must be feeling pretty vindicated. Those know it all's who mounted the coup and Elliot Spitzer too are the biggest losers.

 

[Lynnie]

Good lord, never even considered that. How would you know, would it be in your policy contract?

Could get complicated as AIG could be your carrier's reinsurer~~~~~ At least we know they can get billions from the US Gov't!

 

[SHELLY]

Geez, the Asian markets are circling the bowl again--down 3%-4%.

.

 

[SHELLY]

Good lord, never even considered that. How would you know, would it be in your policy contract?

No need to worry, I read that AIG's traditonal insurance operations are financially sound

.

 

[poppy]

How many of us have Florida Homeowner's Policies that's backed by AIG?

.

Oh great, thanks SHELLY. My blood pressure was already high at the doctors office friday.