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aig: Flight to Safety continues as US government lends $85 Billion to stabilize AIG - 09/17/08 11:10 PM
Earlier this week, I recapped the market phenomenon referred to as a "Flight to Safety". In such a situation, investors flee riskier investments, in favor of assets that are more secure, such as oil, treasury bills, and gold.
What happened today is clearly such a Flight to Safety.
As you know, the Federal Reserve announced yesterday it would lend $85 Billion to help stabilize troubled insurer American International Group, a company that insures homes, cars, businesses, and mortgages, among other things, while investing its assets in stocks, bonds, mortgages, and other investments. This loan came with a very high price: 11.5% … (0 comments)
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aig: Wall Street Rocked by Credit Fallout; the Definition of a Flight-to-Quality - 09/15/08 12:19 PM
If there is rock & roll playing in lower Manhattan this morning, it is probably The Doors' "Peace Frog", as investors awoke to a market seeing financial giants Lehman Brothers, Merrill Lynch, and American International Group all discussed in badly negative news.
Lehman, a troubled investment firm with major investments in the mortgage market filed for Chapter 11 Bankruptcy this morning. Its stock has declined from over $65 at the beginning of 2008 to less than a quarter this morning. The company had sought government intervention or an outside buyer over the past 10 days, but when none was forthcoming, found … (1 comments)
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Dan Hartman
Providence,
RI
More about me…
Province Mortgage Associates - (401) 263-8655
Address: 10 Davol Sq, Providence, RI, 02903
Office Phone: (401) 490-4400 x 114
Cell Phone: (401) 263-8655
Email Me
Dan Hartman's Blog about mortgages, real estate, and the economy in New England, and the United States, especially Rhode Island Rates, Connecticut Mortgages, Massachusetts Rate Locks, and New Hampshire Home Sales. Let Dan leverage his MBA in Finance and experience as a college professor for you!
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