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Tuesday, September 16, 2008

Financial Crisis Continues to Simmer

Items of Interest:

CNN Money:
5 questions: Why AIG matters to you -- People with AIG insurance policies are wondering if the company's problems will affect them. Here's how...and why you should care even if you aren't a customer.

American International Group is the world's largest insurer and at the moment, Wall Street's biggest worry.

The insurer is struggling to raise cash while economists and investors debate whether or not it should get a government bailout. But despite the importance of the company, the average American is probably not sure how, or why, its problems will affect them.

Here are five key questions and answers about AIG's current woes and what they mean to you.
I have insurance through AIG. How worried should I be about the problems at the company?

At least in the short term, you probably don't need to be worried at all...
New York Times:
Fed Takes Steps to Aid A.I.G. — Major credit ratings agencies downgraded the American International Group late Monday, worsening its financial health, as Federal Reserve officials and two leading investment banks were in urgent talks to put together a $75 billion line of credit to stave off a crisis at the company..
Randall W. Forsyth / Barron's Online: An AIG Accident Could Dwarf Lehman's

Michael Lewitt / New York Times: Wall Street's Next Big Problem
Sean-Paul Kelley / The Agonist: AIG Death Watch
John Berlau / OpenMarket.org:
Lehman bankruptcy: In capitalism, failure is not a dirty word

Calculated Risk

MishTalk - Mike Shedlock

Paul Krugman - NY Times

The Big Picture - Barry Ritholtz

naked capitalism - Yves Smith

Pragmatic Capitalism

Washington's Blog

Safe Haven

Paper Economy

The Daily Reckoning - Australia