AIG received bozillions from you and me, yet the chatter of an imminent bankruptcy made the rounds yesterday on a report that they have found a way to lose $60 billion. They now have hat in hand for “more” money. Let it die.
JPM, the “bluest” of blue chip banks practically eliminated their dividend yesterday. You heard it all here six months ago as I said all dividends would cut dramatically if not eliminated entirely. Oh, by the way, the ones that survive will still be back for gobs of dilutive capital and I still anticipate all of their credit ratings to be downgraded. Oh joy.
Don’t you love the speed with which Washington is dealing with this problem? By the time they announce the next announcement of an announcement, the DOW should be 5000. Keep up the great work, your fingers are right on the pulse guys.