BACK OF THE ENVELOPE

Quick on AIG- government to lend up to $85B for up to 24 months at Libor +8.5 bps- hmmm- and get 80% ownership-

Now that equates to about 13B total outstanding shares today v 2.7B shares yesterday and -with another $10B in interest expense or almost $4 per share before the dilution - well why would I pay more than a few pennies for AIG common- vs. the $2.5 currently on my screens- 8:12 EST.