Tuesday, August 9, 2011
Perhaps some news coming re: AIG vs BAC?
Both are in the Green today, AIG up 3.5%, BAC up 1.18% from an 18+% rout yesterday. Perhaps BAC will spin off the Country Wide unit, which will be backstopped by the Fed? This is one of the reasons I think Hank Paulson and Geithner made the market more dangerous by taking TBTF Too Big To Fail banks and making them bigger with toxic assets, the BAC chickens are coming home to roost now. As always, the Fed's law of unintended consequences-at least we hope they were unintended.
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