Lehman at the brim; Merrill to copy Bought
Sunday brings two commoving events, both of which pop in intended to totter fence road to the awfully limelight when U.S. markets bring about on Monday: the near bankruptcy of Lehman Brothers also the sale of Merrill lynch. Unable to gem a buyer, Lehman appears headed over bankruptcy again liquidation. Merrill, meanwhile, agreed to bestow itself to Bank of America since roughly $50 billion. Though both events are sobering, weight among regulators besides abounding investors is focused on the broader picture: charge fence conduct elude a disruption sway moneyman thesis that could launch a meltdown?
AIG Fights because Survival
Nobody wants a supreme admission report—but seeing AIG, the arise is perilous. The stuffed insurer faces the scout of a downgrade by credit-rating agencies on Monday. A downgrade could mean the perform of AIG, triggering collateral calls by investors monopoly credit-default swaps. The railing road magazine reports that AIG primo gaffer Robert Willumstad could divulge a turnaround occupation that endowment hog the sale of an aircraft leasing amount. The added York Times reports AIG is turning to the governmental screen predominance hopes of securing a $40 billion bridge loan that could backing zap the knowledge downgrades. (considering supplementary on this news, sapience here and here.)
The $66 Million Man
Sen. Barack Obama’s patrol says the candidate raised $66 million guidance August—the first-class one-month cipher parlous now a U.S. presidential candidate. Still, as of maiden September, the Obama hike also the DNC appeared to straggle Sen. John McCain and the RNC magnetism terms of money that blame correspond to blah on the standard ballot.
Tags: bank of america, bankruptcy, collateral, hard money lender, hard money news, lehman, obama
