Archived IMT (2008.09.16)
NY Times says FED GIVES $80 bln to AIG IN RETURN OF 80% OWNERSHIP. JPY drops across the board. While this helps alleviate worries in the short term, it leaves very much to the imagination about the gravity of the problem that the US central bank is taking over insurance companies.
The question is now raised: How long will the positive market impact last this time around. It seems that the Fed completely obliterated market disappointment from holding rates unchanged by injecting $210 bln in less than 24 hours.
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