Movers: AIG, Merrill Lynch, Bank of America, Lehman
American International Group (AIG) shares plunged 7.38 to 4.76 after the US government reportedly says it won't bail out AIG, but that it has asked Goldman Sachs ticker symbol="GS"/>) and JP Morgan (JPM) to lead a $70-$75 billion lending facility. NY Governor Patterson reportedly says AIG has been given permission to access $20 billion of capital to free up liquidity. Earlier, WSJ reported AIG is pulling together survival plan. S&P Ratings Services placed AIG ratings on CreditWatch with negative implications. S&P Equity Research, Merrill, Citigroup downgraded AIG.
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