I think we are for here a good long time. It will be damn difficult to get a job in finance in the west. I am also worried about AIG. I think if they were a bank they would be bankrupt. Unlike banks, insurance companies do not have to mark to market so they can hide the junk they carry on their books for longer. However, the quality of their collateral is so poor they cannot borrow against it and they have no liquidity. No liquidity means no way of meeting obligations. This means bankruptcy. Unless of course, the Fed bails them out.

Hank Paulson said no more bailouts for banks but what about insurance companies?

Just call me Tigasin. That's what I'm talking about