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Originally Posted by dalakhani
Correct and that is why the pressure from the govt to get the deal done NOW. Merrill is a dow component. Can you imagine what the market would have looked like without Merrill stock jumping on news of the deal?
The market was doing fine, ranging in the 200's until Paulson spoke...and then it started to tank.
Now the FED is asking (coercing?) Goldman and JP morgan to invest in a consortium to raise capital for AIG. desperate times.
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i read earlier this evening on the news ticker that AIG needs $70 billion-yes folks, with a B-to avoid a downgrade on their rating. downgrading of course makes it harder to get future loans....
not good, not good at all. i saw early this morning that the dow was down about 250...didn't see anything else til tonite, the 502 drop....a black monday for sure...