Příspěvky nebo odpovědi uživatele Kominík

AIG is asking the US government for a new bail-out less than two months after the Federal Reserve came to the rescue of the stricken insurer with an $85bn loan, according to people close to the situation.

AIG's executives were last night locked in negotiations with the authorities over a plan that could involve a debt-for-equity swap and the government's purchase of troubled mortgage-backed securities from the insurer.

People close to the talks said the discussions were on-going and might still collapse, but added that AIG was pressing for a decision before it reports third-quarter results on Monday.

AIG's board is due to meet on Sunday to approve the results and discuss any new government plan, they added.

The moves come amid growing fears AIG might soon use up the $85bn cash infusion it received from the Fed in September, as well as an additional $37.5bn loan aimed at stemming a cash drain from the insurer's securities lending unit.

AIG has drawn down more than $81bn of the combined $122.5bn facility. The company's efforts to begin repaying it before the 2010 deadline have been hampered by its difficulties in selling assets amid the global financial turmoil.

AIG executives have complained to government officials that the interest rate on the initial loan - 8.5 per cent over the London Interbank Borrowing Rate - is crippling the company.

They compared the loan's terms with the 5 per cent interest rate paid by the banks that recently sold preferred shares to the government.

One of AIG's proposals to the Fed is to swap the loan, which gave the authorities an 80 per cent stake in the company, for preferred shares or a mixture of debt and equity.

Such a structure would reduce the interest rate to be paid by AIG and possibly the overall amount it has to repay. An extension in the term of the loan from the current two years to five years is also possible, according to people close to the situation.

The renegotiation of the loan could be accompanied by the government's purchase of billions of dollars in mortgage-backed securities whose steep fall in value has been draining AIG cash reserves.

AIG is also proposing the government buy the bonds underlying its troubled portfolio of credit default swaps in exchange for the roughly $30bn in collateral the company holds against the assets.

Losses on the mortgage-backed assets, which were acquired by AIG with the proceeds of its securities lending programme, and the CDSs caused the company's collapse.

Since the government rescue, they have continued to haunt AIG, which is required to put up extra capital every time the value of these assets falls. AIG and the Fed declined to comment.

http://www.ft.com/cms/s/0/fb4d0078-ad34-11dd-971e-000077b07658.html?nclick_check=1

Morgan Stanley issued a "full house buy signal" on European equities, as its four indicators -- valuation, capitulation, risk and fundamentals -- all indicate to buy. "The latest elements that pushed us there have been a capitulation among retail investors, purchasing managers and sellside analysts, as measured by record mutual fund outflows, ISM new orders below 40 and analysts revisions collapsing. The idea is that when these three groups know about the bad news, equity prices are probably already reflecting it," the strategists said.

http://neviditelnypes.lidovky.cz/energetika-zacina-druha-jaderna-era-dut-/p_ekonomika.asp?c=A081027_202614_p_ekonomika_wag

pro důvěru trhu (dlouhodobě) bych řekl lépe nechat zbankrotovat Lehman Brothers, než ze státních peněz opět garantovat průserová aktiva případnému kupci a zvyšovat tak US vládní deficit, ten Lehman totiž zřejmě nebude zdaleka poslední adept k záchraně, už teď prosakuje problém s likviditou u pojišťovací skupiny AIG a další potápějící se finanční společnosti se nejspíš ještě začnou objevovat

a 3 hodiny po Barclays vycouvala z jednání také BofA

Variantu, že vláda nevydrží až do konce řádného mandátu, už promýšlí i premiér. Tuto možnost připouští v rozhovoru pro zítřejší Hospodářské noviny. Sám premiér pochybuje o tom, že vláda vydrží. "Já si dovedu představit dovládnutí i ve vládě bez důvěry do nějakých voleb na podzim 2009. Já ty scénáře celkem mám připravené, už o tom nějakou dobu přemýšlíme s kolegy, co dělat v takové situaci. Jsou zhruba dvě, tři věci, které stojí za to prostě prosadit. Jedna z nich je samozřejmě radarová základna," připustil Topolánek možný konec této vlády pro zítřejší Hospodářské noviny.

1:34 [LEH] Barclays could return to bid, sources say - WSJ 1:34 [LEH] Barclays walking away from Lehman deal - WSJ 1:34 [BCS] Deal structure would require Barclays shareholder vote - WSJ

Barclays PLC, Britain's third-largest bank, has emerged as the most likely suitor to take over Lehman's good assets, which include investment banking, trading and asset management, according to bankers and officials with direct knowledge of the discussions. They spoke on condition of anonymity because talks were ongoing.

The price of a barrel of oil again slipped below $100 on future markets Sunday, though it's unlikely Americans will see much if any relief after Hurricane Ike devastated a part of Texas that accounts for 25% of all refined gas in the U.S. A barrel of light crude recently traded down $1.56, or 1.5%, at $99.62 on the New York Mercantile Exchange. The price has dropped to as little as $99.44 - the lowest since March 25 - in a special early electronic trading session scheduled in response to the storm, Dow Jones reported Sunday.

The price of a barrel of oil again slipped below $100 on future markets Sunday, though it's unlikely Americans will see much if any relief after Hurricane Ike devastated a part of Texas that accounts for 25% of all refined gas in the U.S. A barrel of light crude recently traded down $1.56, or 1.5%, at $99.62 on the New York Mercantile Exchange. The price has dropped to as little as $99.44 - the lowest since March 25 - in a special early electronic trading session scheduled in response to the storm, Dow Jones reported Sunday.