On September 23, 2009
Buyer Beware! WSJ Says AIG Run Up Due to ‘Speculators’
The rise in American International Group shares since August is a mystery to every rational investor. Even the General Accounting Office, points out that while AIG now has survivability, its long-term ability to pay back what owes on its $182 billion bailout package remains in doubt. And as everyone knows, Uncle Sam leads the list for payback. The quick ascent in AIG’s stock price is like that car crash movie, “Too Fast, Too Furious.” Despite a few speed bumps, it has quadrupled from its $13 price back in August, reaching $55 at one point. It is now trading at $47. But today’s Wall Street Journal provides an answer to the enigma. AIG is “a playground for speculators,” who are manipulating the…
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