Monday, March 2, 2009

61.7 Billion quarterly loss confirmed for AIG

Perhaps the thing to do is to take out some insurance to protect you from your insurance company's losses. Ouch! The money quote, in a mastery of understatement by the Treasury Department and the Federal Reserve aka Mommy and Daddy, "They said the company continues to face "significant challenges" due to the rapid deterioration in certain financial markets in the last two months of the year." Hmm, you think so? It's only the biggest quarterly loss in U.S. corporate history.

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