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Old 09-15-2008, 11:05 AM   #21
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last word i heard is that it's an all stock deal and the value has some conditions so the $29 figure is not final
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Old 09-15-2008, 11:06 AM   #22
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and this is not unthinkable

i've read that by the end of the 1973-1974 bear market most of wall street had gone out of business. quite a few of the big boys of the 1980's aren't around anymore. every decade there is a changing of the guard on wall street.
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Old 09-15-2008, 11:55 AM   #23
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Maybe a deal will get done to shore up AIG or maybe they will sell off the annuity division to a solid company. I read that is one possibility.
Funny. Around '98/'99, Fortune listed AIG as one of their "ten stocks to own forever".

Rumor is that Buffet is sniffing around but said that he's not really interested.

Its possible that any buyout would require the buyer to continue to make good on their liabilities.

Still, this is going to be a tough couple of weeks for anyone depending on AIG staying in business.

Kudo's to Brewer for pointing at AIG several times and making that 'invasion of the body snatchers' noise.
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Old 09-15-2008, 12:00 PM   #24
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I guess one positive is that in looking at the Vanguard Market Neutral fund, it holds humongous short positions in all of these companies that are rolling over...from fannie to aig. AIG is their biggest short, followed by AMEX.

Maybe I dont hate it as much as I thought I did
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Old 09-15-2008, 01:08 PM   #25
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Kudo's to Brewer for pointing at AIG several times and making that 'invasion of the body snatchers' noise.
That almost sounds like the beginning of a peace offering.
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Old 09-15-2008, 01:12 PM   #26
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Hey, I give credit where credits due. He's been whizzing on AIG for years and I'd been thinking they were an okay company and figuring vanguard wouldnt be doing business with them if they werent pretty solid.

I guess that lets the air out of quite a few theories...

If it makes you feel any better, I'll give him some more hard times the next time he tosses out a stock pick that drops 50% a month or two later.
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Old 09-15-2008, 01:13 PM   #27
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If it makes you feel any better, I'll give him some more hard times the next time he tosses out a stock pick that drops 50% a month or two later.
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That's Never Going To Happen
Old 09-15-2008, 05:15 PM   #28
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That's Never Going To Happen

"I do not understand how we got into this situation," said New Jersey Gov. Jon Corzine, a former chief executive of Goldman Sachs.

"You could have asked me two years ago, five years ago, would you ever see a day like this?," he told CNBC. "And I think, not just me, but most people would say: 'That's never going to happen.'"

"The core problem that we have is the economy," he said."There are two things here that are very disturbing and not addressed. One, there is no major infusion of new capital into the system. We are doing more financial engineering to solve problems. Second of all, and much more important, is the fundamental economy is in very bad shape and the problems are growing."
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Old 09-15-2008, 09:33 PM   #29
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Well on one hand Im down 15% or so. Then on the other hand Im really glad I don't own any individual financial stocks. Guess thats one boon to index investing Ill leave the individual stock picking. to the pro's.
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Old 09-16-2008, 03:13 AM   #30
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"I do not understand how we got into this situation,"
That GS people "don't understand" seems like part of the problem right there...
The esteemed Mr. Paulson, another GS-er and quite a rich one.

Whocouldaknowd?


Found this good clip of the Charlie Rose show:
A discussion about the takeover of Fanny Mae and Freddie Mac - Charlie Rose
Roubini and El-Erian know what is going on. (The two NYTers are just sort of padding to tone down the "wonk" factor; they don't add anything.)
Roubini has been talking about this for years. I started reading him to the extent I could (for free) many months ago (and got accused of an unhealthy affection for a certain base metal ). Nouriel is the man to watch.
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