No rate cut but... rally tomorrow? Entire market severely oversold especially commodities. Still early but gold up on this news. KXL news (high-grade deep intercepts GM-Lucky Strike convergence?) coming soon pre-Toronto conference just like last year?
red911
Fed to provide $85 billion bridge loan to AIG: source
Tuesday September 16, 8:00 pm ET
(Reuters) - The Federal Reserve will provide a roughly $
85 billion bridge loan to AIG (NYSE:
AIG -
News) and take a
nearly 80 percent stake in the company, according to a source briefed on the matter.
CNBC earlier reported the bridge loan would be secured and that shareholders would be severely diluted by the bailout.
Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and others were involved in the talks, CNBC said, adding that the bailout plan being negotiated "isn't a conservatorship."
