by Calculated Risk on 9/16/2008 06:20:00 PM

Form the NY Times: Federal Reserve May Act Alone in Rescuing A.I.G.

The fate of the American International Group now lies with the Federal Reserve ... If the Fed decides not to intervene, A.I.G. will likely file for bankruptcy by Wednesday, these people said.
...
A.I.G.’s collapse seemed so likely on Tuesday that the company hired the law firm Weil, Gotshal & Manges ... to draw up bankruptcy papers.

Something will probably happen tonight.