Trying to find $13 billion to get into a secondary is no mean task in this market.

Yet that's what funds had to scrape up Monday if they wanted to be in on the big AIG (AIG) deal, one that is regarded as a virtual cleanup of the U.S. government's position, because the rest isn't big enough to be considered a true overhang.

With declining participation, money out week after week and a financial sector with little momentum save a couple of days lately, there's not a lot of spare change to get into the deal. I think that was a major reason for the hideous reversal in the last hour: raising cash to be in this deal.

We have been advising Action Alerts PLUS subscribers to take down as much AIG as possible because of the earnings momentum here as well as the discount to tangible book value as it trades at about half of it. AIG is actually trying to bring out value.

I tire of hearing from Hank Greenberg, the man who built AIG, because, while he didn't destroy it himself, he did set up a world where cowboys with no data insured the uninsurable.

Those days are over now, and Robert Benmosche has turned AIG into a very good insurer that makes money around the globe. That business and the fact that the government scrubbed the books clean while it owned it have given AIG a reputation as a terrific, safe earner that makes it all the more likely that this stock works. There's still tons to buyback, and obviously this is not a chimerical buyback.

But nothing I write is revelatory to those investors who tried to sell stock to get into a deal that was tightening up by the hour.

That meant you saw a ton of unrelated stocks coming in as capital was raised, including stocks as diverse as Apple (AAPL), which was easy to sell after this run, and Google (GOOG), which has had a most-favored-nation run -- based on what, I do not know, other than the fact that it is in the headlines a lot and is inexpensive.

So with the capital raised for AIG, let's see if the worries about Germany and the Fed develop into two more Big Bad Events that simply have to be gotten through. I know I probably should be sweating the Spanish program, too, as the government there is supposed to go hat in hand yet is showing some unneeded and unnecessary pride about the whole thing. You know, for all things Spain, I take my cue from Banco Santander, and the fact that it has remained strong during these headlines tells me that the worries there are, indeed, overblown.

Jim Cramer is a co-founder of TheStreet and contributes daily market commentary to the financial news network's sites. Follow his trades for Action Alerts PLUS, which Cramer co-manages as a charitable trust and is long AIG and AAPL.

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