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Tuesday, September 16, 2008

Next to fall: AIG. Will the Merrill/BofA deal collapse?

With the Fed standing pat on rates and Treasury not extending help to AIG, the insurer is likely to fail, touching off even more market turmoil. Talk in the market now of the Merrill/BofA deal being scuttled. If Merrill dies, the negative psychological impact to the markets and the economy will be enormous! Fed has been hijacked by a couple of hawks--Fisher and Plosser. Blame these guys!

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