The "up-to-the-minute Market Data" thread

American International Group [AIG 44.40 0.18 (+0.41%) ] has agreed to sell its Taiwan life insurance unit for $2.15 billion, a key step in its effort to raise cash after a U.S. government bailout last year saved the company from collapse.

So what that means? that they are to pay some of the tax payer money they took for their corrupted practices?

Or that they are so strapped for money still after the 80 billion bailout that now they are looking for liquidity.

I guess we the tax payer are nothing but suckers to this companies.

www.cnbc.com...

reply to post by marg6043


The federal government's bailout of AIG has left it with a nearly 80% ownership stake. The government has a multiyear plan to recoup the more than $100 billion in taxpayer money it put at risk in the rescue.

The plan requires hiring firms to handle public offerings of some AIG units and outright sales of others, to manage some toxic AIG assets, and for other distasteful tasks.

That's what your seeing now the Break up of AIG
Detales here

reply to post by DaddyBare


They maybe braking out but their CEOs are still getting their bonuses.

good read...here's a snippet

www.marketoracle.co.uk...

The Fed's purchases of assets to increase this base automatically created deposits that positively charged the money supply growth to a 15.2% six-month growth rate (Chart 2). If the economy were operating near full capacity, a healthy banking system would take these deposits and multiply them roughly nine times; that circumstance could be inflationary. Unfortunately the banking system is not healthy, as evidenced by the fact that we have closed 95 banks this year, more than the cumulative total of the past 15 years, and another 416 banks are on a list destined to become extinct. With consumers' asset prices falling so rapidly and banks increasingly afraid of failure, banks are more interested in collecting loans than in lending. So with fewer consumers now credit worthy, loan volumes are collapsing. As loans are paid off, deposits are destroyed, and the money multiplier that should stand at nine has gone to zero. This is evidenced by the fact that the six-month change in M2 has fallen to a 1% growth rate, meaning that monetary stimulus is on hold. Get set for negative GDP in 2010.

Remember the Fed's goal is to create Inflationary EXPECTATIONS......should the banking system be nationalized fully i would believe inflation has a chance until then for profit banks will not lend into this enviornement with higher loan defaults.



[edit on 13-10-2009 by cpdaman]

New highs & lows today!!!

Spot Gold $1069.72

USD 75.57

Wheee...enjoy the ride!


[edit on 10/13/2009 by Hx3_1963]

reply to post by Hx3_1963


One ticket please...



No wait, make that a day pass...



On second thought, gimme the SEASON pass.



...and hurry it up, the snow's melting.

reply to post by lernmore
Nice huh?

USD 75.551 a new low...AGAIN...

Yep that last Season Pass will work fer me!

EUR closing in on 1.49

Someone go wake up Ben & Timmy...OH YEAH...they want a weak $...

[edit on 10/14/2009 by Hx3_1963]

Bring on the weakness, the Australian dollar is within the $0.90USD mark for the first time since last October, hurray for cheap computer components and imports!

[edit on 14-10-2009 by funny_pom]

Gold $1070.60

USD 75.436

Asia all in the green...except Nikkei down/about flat...

Europe set to open higher as well...

DJIA FV Futures up about 100

[edit on 10/14/2009 by Hx3_1963]

So reality hit the fan or I may say the crap hit the fan

The so call retailers good fortune and propaganda from numbers were in part due or perhaps mostly due to the "clunkers" program.

No more clunkers, retailers are back down to reality, or perhaps it was not the regular retailers the one that make the money but just the auto dealers, specially foreign ones, so actually the so call "better than expected" was Japan "better than expected".

Retail Sales in Post-'Clunkers' Fall, But Less Than Thought

Sales at U.S. retailers fell in September, hurt by a slump in motor vehicle purchases as government-sponsored incentives ended, but the decline was less than expected, a government report showed on Wednesday.

Stripping out the volatile autos component, sales increased for a second straight month in September, cementing the view that consumer spending recovered and the economy started growing in the third quarter after the worst U.S. recession since the 1930s.

The Commerce Department said total retail sales fell 1.5 percent in September, the biggest decline since December, after surging by a revised 2.2 percent in August. Sales in August were previously reported to have increased by 2.7 percent.

www.cnbc.com...

Deceptions, deceptions and more deceptions.

just heard on MSNBC from dylan radigan that he did not have health insurance on CNBC...they couldn't even provide one of their top on-air people with coverage. that's one of the reasons he quit. i guessed that's only reserved for top executives. can you imagine what the sound or video guy gets??? 10 bucks an hour, part time, no benefits. i know this has little to do with the market, but it does show what this business network thinks about it's employees

JP Morgan 3rd quarter results

The second-biggest US bank made a net income of $3.6bn (£2.5bn), compared with $527m in the same period of 2008.

Strong performance in its investment banking division cancelled out losses on credit cards and consumer loans...

and anyone familiar with this thread knows what 'investment banking' is all about...

Check out this reflection of the reality of what's happening in the economy:

The consumer lending business posted a net loss of $1bn, up from $659m in the same period of last year...

...However the investment banking business made net income of $1.9bn...

Stay on message MSM, stay on message...

"This is off-the-charts performance. This is stellar," said Michael Holland, president of the fund managers Holland & Co in New York.

Any dancing in the streets? Anyone hear a ticket-parade? Let us know.

reply to post by pause4thought


Hum I kind of heard a rumor, but is just a rumor that they were boosting their numbers because they were borrowing on their own reserves.

But you know, you can no ask private entities anymore because they enjoy privacy.

And so the Dow keeps getting cloeser to that 10,000 mark

The major stock markets were expected to gain at the open today – after the first hour they had, on average, gained nearly 1 percent each. Overnight futures and world market movements indicate that today could present big gains for investors. The Dow Jones began the day at roughly 9,871 points, and a solid day of trading could potentially push that index near or beyond the 10,000 point mark – after just one hour the Dow stood at 9,950 points.

This market optimism is being fueled by strong earnings reports from corporations like JPMorgan Chase. According to CNNMoney.com, JPMorgan Chase’s profits increased six-fold in the last fiscal quarter. The bailed out institution was once on the verge of collapse, but after tens of billions of government capital it is leading the charge in finance.

www.economyincrisis.org...

reply to post by marg6043


Are we talking spam email or inside story?

One thing's for sure, they've earned themselves some tasty bonuses, wouldn't you say?

reply to post by pause4thought


No, it was not spam e-mail I got my filter very high and I don't have inside information it was "just a rumor", obviously somebody or some entities wants the Dow to hurry up and reach 10,000 and the sooner the better.

TALES OF THE UNEXPECTED (from the last 24 hours)

Don't expect too much and you'll never be disappointed.

Retail Sales Fall Less Than Expected

Eurozone Aug. Industrial Output Drops Less Than Expected

China's Exports Fall Less Than Expected In September

S. Korean economy may shrink less than expected: finance minister

Rise in unemployment less than expected

UK Sept. Claimant Count Rise Smaller Than Expected

reply to post by marg6043


Sounds like a low-to-medium level source. Kiss-my-feet level banksters have known the precise day and time since the last cabal barbeque.

And don't give us 'don't have inside information' line, marg. Everyone knows the name of at least two boards you're currently serving on.

reply to post by pause4thought


I serve on the board of bored desperate housewives in my neck of the woods

But hey I search the INTERNET for the most darkest secrets and none so secret information . . .

reply to post by marg6043


So it's blackmail that drives you? You've got me worried now. What's your price?



DJIA

9981.17 up 110.11 1.12%

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