|
|
« Previous McArdle | Next McArdle » |
|
What does it all mean?
By
Last night after my AIG posts I ducked out to a Reason Happy Hour. Naturally, everyone wanted to know what this would mean for the markets. With my crack talent for prognostication, I said, "Well, they will go up. Or they will go down. Though it's possible they might stay the same."
Is the Fed's move reassuring, because AIG is not going to wind its $100 zillion worth of trades? Or frightening, because what the hell kind of shape is the financial system in if the Fed is taking over insurance companies?
Damned if I know. But the markets seem a little unsettled . . . down 140 points as of this writing. Not catastrophic. But certainly not good.
Is the Fed's move reassuring, because AIG is not going to wind its $100 zillion worth of trades? Or frightening, because what the hell kind of shape is the financial system in if the Fed is taking over insurance companies?
Damned if I know. But the markets seem a little unsettled . . . down 140 points as of this writing. Not catastrophic. But certainly not good.
Presented by





























Join the Discussion
After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus