hrishikesh_desai
Hrishikesh Desai
Hi,
Check out this attachment.... Its the Latest Update on AIG.....
If the Fed decided to help Bear Stearn and AIG then why not help Lehman???
Also Read the following article by Michael Lewis - Bloomberg
This really gives you a idea how bad the situation is in the US market.....
Lehman CEO was willing to give Buffet 33% stake and seat on the board for 5 billion dollars
AIG gave up 79.9 % stake in the company to the government for 85 billion dollars
How bad are the valuations of the companies.....
Some good news though from Goldman Sachs and Morgan Stanley ..... they both posted profits .... both were way below their last years performance but above market expectations.... thats what counts right now in this scenario.. i guess.....
For India...... It seems about 50,000 odd people from the IT and Banking space will be displaced just because of Lehman down fall.... thats a big big figure... they will start giving the pink slip from 1st Oct 2008, thats two weeks from now....
For guys who have something or anything to do with Tata AIG.......
Guys with Insuarance cover with Tata AIG will be safe ... thanks to our stringent laws.... boy thats blessing in disguise.... who ever said we need to have more liberal laws must be eating his words...
But for the guys who have any stake in the AIG's 54 Mutual Fund products, Rs 3400 cr. Asset under management, may find it risky as many of the key professional who manage the funds may decide to move on due to the global financial crisis of the parent company....
The future is truly unpredictable now....
Check out this attachment.... Its the Latest Update on AIG.....
If the Fed decided to help Bear Stearn and AIG then why not help Lehman???
Also Read the following article by Michael Lewis - Bloomberg
This really gives you a idea how bad the situation is in the US market.....
Lehman CEO was willing to give Buffet 33% stake and seat on the board for 5 billion dollars
AIG gave up 79.9 % stake in the company to the government for 85 billion dollars
How bad are the valuations of the companies.....
Some good news though from Goldman Sachs and Morgan Stanley ..... they both posted profits .... both were way below their last years performance but above market expectations.... thats what counts right now in this scenario.. i guess.....
For India...... It seems about 50,000 odd people from the IT and Banking space will be displaced just because of Lehman down fall.... thats a big big figure... they will start giving the pink slip from 1st Oct 2008, thats two weeks from now....
For guys who have something or anything to do with Tata AIG.......
Guys with Insuarance cover with Tata AIG will be safe ... thanks to our stringent laws.... boy thats blessing in disguise.... who ever said we need to have more liberal laws must be eating his words...
But for the guys who have any stake in the AIG's 54 Mutual Fund products, Rs 3400 cr. Asset under management, may find it risky as many of the key professional who manage the funds may decide to move on due to the global financial crisis of the parent company....
The future is truly unpredictable now....
