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Enter another casualty of the subprime mess. A big negative for the North American markets was American International Group (AIG) reporting its biggest quarterly loss in its 89-year history – AIG being the world’s largest insurance company. Attribute that ugly news up to a US$11.1-billion write-down on its subprime investments.

It seems that the mortgage-related credit crisis is like a bad dream. More bad news could be on the way – in the form of jobs report, factory orders, auto sales, trade balance and retail sales – this in addition to the steady stream of billion-dollar losses in the credit markets. Strap in, and listen up closely folks. We’re in for one heckuva ride.

This commentary provided by Peter R. Bain at www.forexmentor.com where you will find the best forex trading education.

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