A brief synopsis:

"Just give us the $70b public bridge dammit. AIG only need a little time"

Funny thing is, there has been plenty of time. But if one will insist on valuing one's Alt A and subprime mortgage securities at x1.7 to x2 the price placed on similar 'assets' by those prudent accountants over at Lehman (ed - who dat?) one is asking for trouble.

Or a Federal bailout.

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