Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on TwitterBe a Facebook FanTumble us!

02 Mar 2009 21:00


Biz, U.S.: AIG is still around, but it’s really dead in its current form

  • Why it needs to die Simply put, it’s too freaking big. Any company that posts a $61.5 billion loss in income in a single quarter – they lose more money in a minute that most of us see in a year – is too freaking big. Ever throw $400 grand into a fire, then do it again 150,000 times? It’s kind of like that.
  • Government control In exchange for yet another $30 billion bailout, two of AIG’s largest assets – American International Assurance and its Asian operations – will be directly owned by the government and will be sold. Taxpayers, who now largely own AIG, will reap the benefits – eventually.
  • A smaller, leaner AIGWhy is the government putting so much work into keeping the monster alive? Well, if they don’t, it will worsen the stock market collapse even further. But when the dust is settled, don’t expect the company – if it survives – to remain in its current form. It’s too freakin’ big. source

01 Mar 2009 22:22


Biz, U.S.: The U.S. props up AIG with even more money

  • $60 billion the projected quarterly loss the insurer plans to announce tomorrow – the largest ever. That sounds incredibly sucky, guys. :/
  • $30 billion amount the government plans to inject into AIG. Many consider the company necessary to keep alive to prevent economic collapse. source