Blog


Warning: Illegal string offset 'movieurl' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 197

Warning: Illegal string offset 'previewimgurl' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 198

Warning: Illegal string offset 'stagegallery' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 199

Warning: Illegal string offset 'disablegallink' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 200

Warning: Illegal string offset 'disablereadmore' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 201

Warning: Illegal string offset 'galexturl' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 202

Warning: Illegal string offset 'imgzoomcrop' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 203

Warning: Illegal string offset 'displaytitle' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 204

Warning: Illegal string offset 'postsubtitle' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 205

Warning: Illegal string offset 'posttitle' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 206

Warning: Illegal string offset 'postshowimage' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 207

Warning: Illegal string offset 'imgorientation' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 208

Warning: Illegal string offset 'videotype' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 209

Warning: Illegal string offset 'videoautoplay' in /home/content/p3pnexwpnas08_data01/30/3081330/html/wp-content/themes/DynamiX/blog.php on line 210

Market Update September 15, 2008

The financial crisis is not over and lots happened over the weekend spurring a nasty sell off today. Lehman Brothers declared bankruptcy, Bank of America announced that it will acquire Merrill Lynch, and AIG’s future continues to be in limbo. AIG is huge and has numerous assets that it can sell to raise capital, so hopefully they will pull through, but it lost half its value today. I was shocked by Lehman because the street was anticipating someone would acquire them, but apparently no one wanted to take on their balance sheet which is truly unfortunate given the history of this company and the fact that they had numerous resources available to help them shore up their balance sheet and they just didn’t make good decisions. Finally, I am pleased with the Merrill Lynch acquisition. I think it was a smart move by Bank of America and they will greatly benefit by this and the Countrywide acquisitions. Consolidation is necessary for the financials to recover so more acquisitions and fallouts might still come.

Read More
 
Disclosure
site by ryderking