AIG - American Intl Group (NYSE Stock) - Page 2 - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

NEWtrader · #11 09-16-2008, 09:28 AM

down 60% now

rshaggy4 · #12 09-16-2008, 09:53 AM

I got in for 275 shares at $1.75.

NEWtrader · #13 09-16-2008, 10:04 AM

i want to get in but etrade takes so long with thier outside bank tranfers.

rshaggy4 · #14 09-16-2008, 10:32 AM

So far so good...$3.44

You never know with this one.
No news is good news today.

Somebody save AIG!

**Aufan 1983** · #15 09-16-2008, 10:57 AM

Quote:

Originally Posted by rshaggy4

So far so good...$3.44

You never know with this one.
No news is good news today.

Somebody save AIG!

Did anyone else see the former CEO and founder being interviewed this morning on CNBC? He made a VERY strong arguement for the bridge loan.

This company is monsterous and has over a trillion dollars in assets. They are in 30 different countries and employ over 100,000.

The bridge loan is just what the name says (a loan). He said if the loan was granted they would have no problem because that would give them the time needed to sell some assets to satisfy the cash requirements made by regulators.
I may be wrong but I can't see this being allowed to fail. If it does it will drag down almost every bank we know. Shareholders here are not the only ones that need to be watching the news. This decision is huge for our future

**Aufan 1983** · #16 09-16-2008, 11:02 AM

When did we go above 4.00? Wow bring in some green AIG!!!

If they were to be supplied with the needed funds this is going to at least double in one session.

Keep in mind we are talking about the worlds largest not small speck

NEWtrader · #17 09-16-2008, 11:10 AM

Quote:

Originally Posted by rshaggy4

I got in for 275 shares at $1.75.

good buy there i wanted to get in at that price but etrade is still holding me back, im anxious to start trading

**Aufan 1983** · #18 09-16-2008, 11:29 AM

AP
Stocks rise on report of government aid for AIG
Tuesday September 16, 11:20 am ET
By Tim Paradis, AP Business Writer
Wall Street turns higher following report that government is mulling aid for insurer AIG

NEW YORK (AP) -- Stocks turned higher Tuesday after CNBC reported that the government is considering extending aid to troubled insurer American International Group Inc.
A partial recovery in shares of AIG and several other financial companies helped the sector show signs of life a day after leading Wall Street to its worst session in years. Investors also grew hopeful about a Federal Reserve interest rate cut.

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Worries about AIG's well-being intensified Monday and early Tuesday after several ratings agencies downgraded the company. Lower ratings can add to the amount of money the already cash-strapped company has to set aside. Investors fear that a failure by the world's largest insurer would touch off a wave of financial turmoil.

But CNBC's report said the government is at least considering extending a financial lifeline to the company. AIG fell 66 cents, or 14 percent, to $4.10 after being down nearly 75 percent in earlier trading.

Markets around the world were still reeling from the bankruptcy filing of Lehman Brothers Holdings Inc. and the quickly assembled weekend sale of Merrill Lynch & Co. to Bank of America Corp. Investors worry that tectonic shifts in the power structure of Wall Street signal that the financial sector's trouble with imperiled credit are far from over.

The Fed's regularly scheduled meeting, which many economists had expected would be a pro forma occurrence, is now much anticipated, especially after central banks around the world have loosened money supplies this week. The banks are hoping an injection of capital will help soothe markets following the most serious tumult of the 14-month-old credit crisis.

In late morning trading, the Dow rose 80.12, or 0.73 percent, to 10,997.63. The Dow fell as much as 175 in the opening minutes of the session; on Monday, the Dow lost 504 points, its largest drop since the September 2001 terror attacks.

Broader stock indicators also turned higher. The Standard & Poor's 500 index rose 8.84, or 0.74 percent, to 1,201.54, and the Nasdaq composite index rose 15.30, or 0.70 percent, to 2,195.21.

Bond prices came off their highs as investors turned away from the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 3.41 percent from late Monday.

sg1efc · #19 09-16-2008, 12:12 PM

Quote:

UPDATE 1-Firms ceased trade in AIG-linked securities Mon -ETF
Tue Sep 16, 2008 11:28am EDT

LONDON, Sept 16 (Reuters) - Some firms ceased making markets in commodity securities backed by matching contracts from troubled insurer American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) on Monday afternoon, ETF Securities said on Tuesday.

The affected securities are known as exchange traded commodities (ETCs).

ETF Securities said on its website it was "actively working on possible ways of providing investors with liquidity" -- including arranging suitable collateral for market-makers.

"However, we can give no assurance as to whether these or other alternatives can be implemented at this stage," it added.

The agreements with AIG allow the issuer to call for collateral, or redeem all the contracts with AIG, but only once the credit rating of AIG falls below BBB+ from Standard & Poor's and Baa1 from Moody's, ETF Securities said.

The issuer may also redeem all of the contracts with AIG but only if the issuer compulsorily redeems all of the commodity securities on issue. In either case, 30 days' notice is required.

AIG shares plummeted early on Tuesday after the insurer's credit ratings were cut, jeopardising its efforts to raise cash to survive.

The U.S. Federal Reserve declined comment on a CNBC report saying government money is on the table in discussions on the situation of AIG.[nOSL008211]

Quote:

Munich Re says interested in parts of AIG -paper
Tue Sep 16, 2008 12:06pm EDT

FRANKFURT, Sept 16 (Reuters) - Munich Re (MUVGn.DE: Quote, Profile, Research, Stock Buzz) is interested in a number of the assets of troubled U.S. insurance firm AIG (AIG.N: Quote, Profile, Research, Stock Buzz), the German company's chief executive told a newspaper.

"In general a lot of the businesses are interesting for us," Chief Executive Nikolaus von Bomhard told German daily Handelsblatt in a preview of a story to be published on Wednesday.

"Decisive is whether they fit with our strategy and price is right."

Shares in American International Group (AIG) plumetted on Tuesday after the insurer's credit ratings were cut, heightening concerns it might file for bankruptcy.

With this financial crisis, I think that the Fed is hard at work trying to pull a rabbit out of their hat - a rabbit the size of an elephant that is...

rshaggy4 · #20 09-16-2008, 07:58 PM

AIG Hires Law Firm To Draw Up Bankruptcy Papers - NYT
33 minutes ago - FW
DOW JONES NEWSWIRES

American International Group Inc. (AIG) has hired the law firm Weil, Gotshal & Manges, which also is handling the Lehman Brothers Holdings Inc. (LEH) bankruptcy, to draw up bankruptcy papers, The New York Times reported Tuesday, citing people briefed on the matter.

So is this it? Or just preparing for IT?