I Have Seen the Enemy, and He is CDS |
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It's been quite the eventful week on the bailout front, eh? The Treasury and Federal Reserve drew the line at Lehman Brothers, allowing the fourth-largest broker in the U.S. to file for bankruptcy. Then a couple days later, the Fed backtracked and arranged an $85 billion bailout of American International Group. The deal gives AIG a two-year loan at a punitive interest rate of 11.5%, and grants the Fed a 79.9% stake in the insurance firm. The idea is to keep AIG afloat while it sells assets to
Filed under: Fundamental
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