Sunday, September 14, 2008

NYTimes: Blood on wall street

"The American International Group, the insurance company, is planning a major reorganization and a sale of its aircraft leasing business and other units to stabilize its finances, a person briefed on the company’s strategy said on Sunday."

"In one the most dramatic days in Wall Street history, Merrill Lynch was near a deal to avert a crisis, while Lehman Brothers hurtled toward liquidation. "

"In May, David Einhorn, one of the most vocal short sellers on Wall Street, made no secret he was betting against Lehman Brothers. Now, some investors are afraid that fund managers like him will take advantage of the climate of fear stirred up by the troubles of Lehman to single out other weak financial firms whose declining share prices would bring them rich rewards. "

3 comments:

Guy Rosen said...

It's sad to see how these financial giants are crashing down. Not that I love any of them, but this is all going to have an impact on our savings, our spending and our jobs.

Anonymous said...

Next up citi, AIG, and wamu.

These others haven't gone away.

If AIG can't sell assets in time and raise more capital and get capital forbearance from others we are DOOMED!

Anonymous said...

ugly ugly ugly