If AIG falls will it affect Kaupthing Edge?

muggz

I heard that AIG is interconnected with many banks, i was wondering if it crashes tomorrow will it affect Kaupthing bank shares? And in turn Kaupthing Edge?

sabretoothtigger

Fed Said to Reverse Stance, Consider a Loan Package for AIG
By Erik Holm
Sept. 16 (Bloomberg) -- The Federal Reserve is considering extending a ``loan package'' to American International Group Inc., the insurer facing a cash shortage, according to a person familiar with the negotiations.
The stance by federal regulators is a reversal from a position they held as late as last night, and people with knowledge of the talks are ``cautiously optimistic,'' said the person, who declined to be identified because negotiations are confidential.
The person gave no timetable for reaching an agreement or estimate on how much money New York-based AIG would need. New York Fed spokesman Andrew Williams declined to comment.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aModqMIEqaGY&refer=home

ed123_2

...in my view if AIG fails (& it may need many more billions than many believe) then the whole of the worldwide financial system could go down....we would be in a 30's style depression...

LucyTheDwarf

It's good to be so cheerful, in troubled times. :rotfl::rotfl::rotfl:

cheekykid

any idea where can I find kaupthing share price?

ed123_2

,,,,,it has been saved $85 bill

echelon101

http://www.nationalpost.com/most_popular/story.html?id=794704
Fed sweeps in with $85B deal for AIG



Now that is a lot of money

purch

I heard that AIG is interconnected with many banks

Every Bank...

AIG will be underwriters to huge amounts of Off Balance Sheet garbage that just about every Bank has in their closets.

muggz

I did a bit of digging around and found this daily report from Kaupthing which tells you about there stock and how things are going. The rest of this section is pretty useful including monthly ratings from Fitch, etc

Daily reports
http://www.kaupthing.com/Pages/807?NewsID=4001

Ratings
http://www.kaupthing.com/Investors/Ratings
Iceland daily: 16 September 2008


Lehman's fall hits Icelandic markets

The weekend's news regarding the fall of Lehman Brothers and the Bank of America's acquisition of Merrill Lynch had quite an impact on Icelandic markets, as was to be expected. The OMX Iceland stock index fell by 1.7% in yesterday's trading after bottoming at 3.7% earlier the day. The index has fallen 39.3% since the beginning of the year and hasn't been lower for three and a half years. Hf. Eimskipafelag Islands fell by over 20% for the second day in a row, although the bankruptcy of XL Leisure had a significant impact in this case. The ISK has continued to depreciate in the turmoil and the ISK Trade Weighted Index has inched closer to 170, closing at 169.9 yesterday. The ISK TWI has risen by over 41% since the beginning of the year. Finally, the quoted CDS spread on Icelandic banks have also jumped, with little trading however.