AIG: $61.66 Billion Loss

[girl gone mad]

AIG reports fourth-quarter loss of over $61 billion

LONDON (MarketWatch) -- American International Group, AIG, the New York insurer which separately received a new rescue package from the U.S. government on Monday, said its fourth-quarter loss widened to $61.66 billion, or $22.95 a share, from the $5.29 billion loss in the year-earlier period. Continued severe credit market deterioration, particularly in commercial mortgage-backed securities, and charges related to ongoing restructuring-related activities weighed down results. Stripping out capital losses and other accounting items, AIG said it would have lost $37.9 billion, or $14.17 a share. Insurance premiums and other considerations declined by 1.9% for the fourth quarter, it added.

http://www.marketwatch.com/news/story/aig-reports-fourth-quarter-loss-over/story.aspx?guid={AB04142D-BB1D-4E6E-92BB-37E17D00F501}

[BR_Parkway]

1. Losing $22.95 per share on stock worth $0.42 per share - now that

takes some incredible talent that deserves bonuses and handsome rewards.

Because anywhere else that you do that in the real world is called bankrupt. Now I understand why they're called Masters of the Universe - because they can suspend reality.

[coalition_unwilling]

2. That is positively Milo Minderbinder-ish ("Catch 22"). On

a more serious note, what does "loss" mean in this context?

[ixion]

3. AIG is an epic fail

and will only continue to consume tax-dollars as long as we allow it. No more for AIG. They need to be allowed to fail.