I don't want to jack the thread any worse than it is but everyone should be aware of this.
During the first part of the year AIG unwound a lot of trades, buying back whole portfolios from the banks at very generous prices. Some big banks got a windfall of a billion dollars.
This has made their balance sheets look very very good. Of course this is a one shot deal.
AIG only did this because they know that no matter how much money they give their friends, or pay themselves in bonuses, or blow on champaign and caviar, the government will cover it with your money.
One more reason the banks and the stock market are not as healthy as they look.
If you look behind the big con job, you will see some truly frightening things. The stock market still has a long way to drop.
Living in the trailer park of sense, looking out the window at a tornado of stupidity.