"AIG is reported to seek more US aid" by Reuters | February 24, 2009
NEW YORK - American International Group, which was rescued twice last year by the US government, is in talks with authorities for more aid as it looks to post its largest-ever quarterly loss, a source familiar with the matter said yesterday.
AIG is expected to post a roughly $60 billion fourth-quarter loss, the source said.
Really?
Related: The Anal Retentive Executives at AIG
A $60 BILLION LOSS while they were HANDING OUT BONUSES, huh?
How is that ever-widening poop shoot feel, 'murka?
The loss would be among the largest in corporate history, exceeding Time Warner's $54 billion loss in 2002 and dwarfing the $24.5 billion loss AIG posted in the third quarter, when the government increased its rescue package for the troubled insurer to about $150 billion.
The latest round of talks with the government include the possibility of additional funds for the insurer and trading debt for equity, another source said...
Translation: the TAXPAYER is PICKING UP the TAB for AIG!!!
The discussions are going on as US authorities try to put out financial crisis fires on other fronts as well. Citigroup Inc., whose stock has been pounded by fears that the government may seize the bank and wipe out shareholders....
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What's the matter, Globe?
Can't say the n(nationalization)-word?
