Wednesday, Aug 08, 2007
American International Group Inc., the world's biggest insurer, may be sitting on losses of as much as $2.3 billion from securities backed by subprime mortgages, analysts said.
bloomberg.com: world's biggest insurer, may be sitting on losses of as much as $2.3 billion
American International Group Inc., the world's biggest insurer, may be sitting on losses of as much as $2.3 billion from securities backed by subprime mortgages, analysts said. In a ``worst-case scenario,'' AIG may lose $2.3 billion from its investments in subprime mortgage bonds as well as loans given to borrowers with poor or limited credit, A.G. Edwards Inc. analysts in St. Louis said today in a report. Analysts at Goldman Sachs Group Inc. issued a report today estimating losses of as much as $1.4 billion.
Posted by chris :-)) @ 06:16 PM (140 views) Add Comment
1 Comment
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1. benedict said...
AIG is fvcking ginormous though. http://investing.reuters.co.uk/news/articleinvesting.aspx?type=hotStocksNewsUS&storyID=2007-08-08T212553Z_01_N08371119_RTRUKOC_0_US-AIG-RESULTS.xml
Second quarter net earnings of $4.3bn. They'll get over it pretty quickly I think.