Sept. 16 (Bloomberg) -- American International Group Inc., the biggest U.S. insurer by assets, has been offered an $85 billion U.S. loan in return for an 80 percent stake in the company, according to a person familiar with the situation.
The Federal Reserve was persuaded to offer the loan because of the risk that an AIG failure would threaten the stability of world financial markets, according to the person, who declined to be identified because negotiations were confidential. Efforts to find a private-sector solution failed because the company is too big and a long-term fix was needed, the person said.
That took care of that. ES jumps up to 1229.50 and NQ 1747.75. It looks like the Tuesday lows will stick.
ES support is clear at 1200.50, NQ 1714. Add option expiration week back in control and we should still be on target for a bump this week.
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