Tuesday, Feb 24, 2009
AIG may have lost $60bn in 4Q'08.
Reuters: AIG in talks with U.S. government, sees $60 billion loss
American International Group Inc, rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be the biggest loss in a quarter in corporate history.
The $60 billion would exceed Time Warner's $54 billion single-quarter loss in 2002 and dwarf the $24.5 billion loss AIG posted in the third quarter, when the government increased its rescue package for the insurer to about $150 billion.
By contrast, two analysts polled by Reuters Estimates have forecast on average a net loss of $5.46 billion.
** $5bn, $60bn what's $55bn between friends nowadays?
Posted by 51ck-6-51x @ 09:29 AM (428 views) Add Comment
5 Comments
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1. 51ck-6-51x said...
Bloomberg reports:
AIG Said to Get Bids From MetLife, Axa for Life Unit
2. charlie brooker said...
It'll be in the last place they look - it always is.
Have they tried down the back of the sofa?
3. 51ck-6-51x said...
Heh, yeah, maybe it rolled under the fridge.
4. baroo said...
"for a fourth-quarter loss of roughly $60 billion" = About seven and a half grand a second!
5. 51ck-6-51x said...
About seven and a half grand a second
- so it could've been a whole lot worse then.