Author Archives: Timeless Investor

So far there are two very positive news on Magic Jack

1. Bruce Berkowitz’s takes on AIG, SEARS, BAC, MBIA

American International Group has added a news release to its Investor Relations website and echoed Treasury’s $18B sales of common stocks. However, we are still not exactly sure when this sale will happen.

Here is a great mega news for AIG!!!! The US Treasury states that it will sell $18B worth of AIG common stocks and it will also sell $2.7 bil common stock to cover possible over-allotments.

Remember the BAC’s $8.5 billion mortgage-bond settlement? According to Bloomberg,

I have followed on this for over a year, now finally Fed sold the last piece of ML III securities. This is a big landmark on Fed’s bail-out of AIG.