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Now, it's about AIG.
It holds, this market holds.
And talk is at this hour, the battered insurer just might hold...
The federal government apparently talking to Morgan Stanley about exploring what it calls "options" for American Insurance Group.
What those options are, and how much they would cost...all unknown at this hour.
Here's what "is" known.
When there are no options, generally there are no buyers.
Lehman Brothers knows that well.
Financial stock holders of all stripes know that too.
In a whacking some said had an '87 feel to it, an across the board beating of most anything bank, brokerage, or just big.
The Dow...
But step back...as big a hit as this was, it ain't by a long shot, what '87 was.
Less than 3% today.
Almost 24% "that" day.
The entire market given up on then.
Lots of interesting pockets of buying now.
Interest rates going up then.
Interest rates going down now.
No two periods are alike...and some periods can look eerily alike...but there are enough things different to say, at least with this...not then...not yet, anyhow.
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