A government bailout of insurance giant AIG is ‘on the table,’ according to investment banking sources who spoke with Charlie Gasparino of CNBC. There’s been no confirmation from the Federal Reserve.
Update: David Faber says his sources are saying that a private solution is unavailable. He could not confirm the report that a bailout by the Fed is now under consideration.
This is a surprising development, especially given the earlier reports that the Treasury and the Fed were resisting a bailout. Then again, we’re on record as supporting an incoherent and unpredictable policy responses to financial meltdowns. Maybe the government is listening.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
Heard this is done.
Stock price rose from -42% to -22% in the 20 secs or so story as it reported on CNBC. Makes you wonder.
1. If this is false, then give Gaspar another medal for being a tool to manipulate the market.
2. If this is true, the fed prints money, don’t they?
Stock price rose from -42% to -22% in the 20 secs or so that Gasparino reported the story on CNBC. Makes you wonder.
I hate Charlie Gasparino. He’s already self-absorbed enough and now he goes and moves the market. Wait until we hear the Gasbag tooting his own horn on this one.
I’m turning my volume off.
Haven’t those morons figured anything out? A government bailout will wipe out all common, why the hell is the stock trading up? This is what happens when Time Skyes, Sham-wow, Mayo & Co. dominate the markets.
Stock price rose from -42% to -22% in the 20 secs or so that Gasparino reported the story on CNBC. Makes you wonder.
Gasparguido
#6 here, meant Tim Sykes
Stock price rose from -42% to -22% in the 20 secs or so that Gasparino reported the story on CNBC. I need to upgrade my trading account.
just put the dollar online as a pdf… so we can all just print them as we see fit
Know what makes me wonder? When a stock price rises from -42% to -22% in or around 20 seconds of Charlie Gasparino reporting a story on CNBC.
Anyone else?
apologies for the repeat posts on the stock movement.
@6 not if they just need access to discount window to repo assets to create liquidity.
Know what makes me wonder? When a stock price rises from -42% to -22% in or around 20 seconds of Charlie Gasparino reporting a story on CNBC.
Anyone else?
YAY! I am so excited that our government is going to take on all the risk that is currently burning Wall Street.
Who will rescue the bankrupt fed?
U.S. Treasury needs to merge with Xerox to survive. Sell tomorrow to pay for today we have money to print bitches.
SPODE
AIG goes under, turn out the lights, the party is over. Everyone has expoosure to them. Unbelievable that one desk can take down an entire firm, these CEO’s need to be held accountable for this. I call for a Senate hearing on this, the least our government can do. People need to be held responsible for ruining the lives of the “little people”
cnbc reporters making a 2 way market on fed bailout…
didnt AIG turn down private equity money over the weekend because the CEO and Board didnt want to lose control of the firm?
why should taxpayers have to foot the bill because AIG’s board & CEO are egomaniacs?
to hell with them, seriously.
AIG vs FED and the FED blinked.
and still and again, nothing for LEH. Why?
Hank the Tank
@23, 70 mn people have AIG policies – not as many people have LEH stock
AIG turned down private equity money over the weekend?
If that’s true then fuck’m and let’m burn.
Gasbagarino is about to swallow his own foot. I hope he dies.
Hey, 21 didn’t a few other countries go or get damn close to bankrupt? Uh, what happens when the dollar is about as valuable as a peso? They’ll have to print a hell of a lot of them to make the debt payments.
cg just now– “i didn’t say money was on the table”
that’s exactly what you said, asshat
If you want to look good and not be bummy,
Girl you better give me that money!
http://www.youtube.com/watch?v=Hpx5e3A8bs4
@14 isn’t that what Lehman said? Look at where they are now…
@21, yes it can http://www.minyanville.com/articles/index.php?a=16251
@21, yes it can http://www.minyanville.com/articles/index.php?a=16251 in a different kind of way- by printing worthless money!
to #26:
During a weekend scramble to shore up its finances, AIG turned down a capital infusion from a group of private-equity firms led by J.C. Flowers & Co. because an option tied to the offer would have effectively given them control of the company, an 89-year-old giant that does business in nearly every corner of the world.
http://online.wsj.com/article/SB122148503202636197.html?mod=googlenews_wsj
@25 ok, but isn’t that money separate from the messy part that’s causing them troubles?
@32
there is no constraint (other than one of political policy) on the Fed crediting member accounts. Therefore unless they make a conscious decision to default (go bankrupt) they can’t.
How bout this:
If the Fed owns T-Bills it owes money to itself? how is that even fucking possible?
Hank the Tank Hank the Tank..come on everyone lets go streaking….bring your green hat
hmmmm, everyone but gs fails– what kind of gs imperialism is that?
i missed charlie g’s spam email that aig was the pump and dump trade of the day. someone made up for the lot of money that they lost yesterday.
Carney, but who’s in charge of policy? Hank P.? Ben? W? Condi? Barney? Sponge Bob?
Post 18, agreed, what does that group of traders at AIG FP have to say for themselves I wonder?
Attn: Those Commenting On His Greatness
I’m really getting sick of all of your disparaging comments about me. You’re just jealous because I can move markets with the same ease that I can throw weights around the weight room. If you’ve got something to say, maybe we should step outside….?
Charlie “Don’t Call Me Guido” Gasparino
Typo in your update Carney.
I believe you meant – ‘Maybe the government is listing’.
What are the estimates on a Fed bailout?
Ha!
I hate Gasparino – How does this clown have this job. OJ Simpson has better enunciation. Objectively speaking, Gasparino is quite stupid. He enjoys being a bully.
Gasparino would make a great high school gym teacher.
I hate Gasparino – How does this clown have this job. OJ Simpson has better enunciation. Objectively speaking, Gasparino is quite stupid. He enjoys being a bully.
Gasparino would make a great high school gym teacher.