1929 RevisitedTonite AIG is going to to be taken over by the FED. To big to fail. Shareholders wiped out. Bonholders mostly wiped out.
This after Bear Stern, Fanny and Freddy (aka Phony and Fraudy), Lehman Brothers (aka Lemon Brothers), Merrill Lynch. Who's next...
BCE a done deal? Gimme a break.
This is a slow motion train wreck.
Just can't see the banks going on a road show trying to market $32billions of debt while this tsunami is blowing apart this house of card.
Never seen such a disaster. Not even Oct. 1987.
Pretty bad!