Now is 4:09 pm Sep 15th, 2008. US stock market was closed just 9 minutes ago. DOW is down 504.48 points, now at 10917.51, and SPX is down 58.17 points, now at 1193.53.
Bad day for market, not a bad day for black box.
I witnessed the crazy sell off of AIG during the day. Near 12:00 pm, AIG started to drop like a stone, until the NY Governor Patterson announced that NY taxpayers will lend 20 billion for AIG, nice. It's great that I moved out of NYC.
Later on, FED anounced that GS and JP CHASE will lead an effort to raise 75 billion for AIG. Aha, they think the investors are stupid. No, they aren't. Market gave a bit bounce and then it went straight down. And this is the end of story for today.
Clinton said, "This is the biggest fairy tale I have ever seen." Indeed, this is.
1 comment:
Hi
I read this post two times.
I like it so much, please try to keep posting.
Let me introduce other material that may be good for our community.
Source: AIG interview questions
Best regards
Henry
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