Tuesday, September 16, 2008

AIG On the Brink

I have a gut feeling that this week in financial news is going to be one of those things that people look back on in history. With Lehman officially gone all eyes are now on AIG, the huge global insurance company.

from Financial Times

"AIG, the troubled insurer that sits at the heart of the financial system, has one more day to come up with the capital to stay afloat, according to David Paterson, New York governor.
Speaking to CNBC, Mr Paterson also explained that without a capital-raising deal, AIG would not be able to benefit from the $20bn lifeline thrown by state regulators on Monday."
This is going to be a best a very very bumpy ride.