AIG Posts Biggest Loss in History

The US Treasury confirmed Monday that it would throw a new lifeline to insurance giant American International Group by offering to buy preferred stock worth $30 billion, while the company reported a record loss.

AIG’s fourth-quarter loss was $61.7 billion, or $22.95 per diluted share, much wider than it loss of $5.3 billion or $2.08 per diluted share in the fourth quarter of 2007.

Source

Sphere: Related Content

Related posts:

1. Unemployment Benefits Reaches Highest Record Since 1967