Sep 15, 2008

Black Monday Take 2?

In my former life (before I was a housewife) I was an investment banker.  My husband also works in the markets on the buy side.  Today was a scary day for the industry.  

My husbands company is a subsidiary of AIG which closed down 60.8% (compared to the Dow at down 4.4%) at $4.76 per share.  The 52 week high for AIG is $70.13.  Lehman Brothers (the 4th largest investment bank in the country) filed for Chapter 11.  Husband is in NY this week and said that he walked by the Lehman building and former employees were piling out of the building with boxes filled with personal belongings.  Merrill Lynch was bought out by Bank of America.  What a day.  

Please keep all of these families in your prayers (including ours - we are hoping his fund gets bought out of AIG because the future of AIG isn't pretty).

4 comments:

  1. This is scary! I am going to keep you all in my thoughts. The Lehman Brothers news has been horrible as is the fact that the dow closed down over 500 points!

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  2. yikes! you'll, of course, be in our prayers.

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  3. i know, just know everything happens for a reason!

    we might not understand why, but everything will work out!

    postive thoughts chica!!!

    you are in my thoughts and prayers!!!

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