AIG Reports $62 Billion Quarterly Loss

IACRenter_IHB

IACRenter_IHB

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The<a href="http://www.nytimes.com/2009/03/02/business/02aigweb.html?_r=1&hp;"> NY Times is reporting that AIG will report a $62 Billion quarterly loss </a>on Monday, the largest quarterly loss of any company in history. It also necessitates an additional Federal bailout to the tune of $30 Billion. This brings the total tax payer tab for AIG to around $182 Billion!!! Someone needs to got to jail for this. It is disgusting how much of my hard earned tax money is being sucked down the drain. The pain is just beginning.
 
[quote author="IACRenter" date=1236001315]The<a href="http://www.nytimes.com/2009/03/02/business/02aigweb.html?_r=1&hp;"> NY Times is reporting that AIG will report a $62 Billion quarterly loss </a>on Monday, the largest quarterly loss of any company in history. It also necessitates an additional Federal bailout to the tune of $30 Billion. This brings the total tax payer tab for AIG to around $182 Billion!!! Someone needs to got to jail for this. It is disgusting how much of my hard earned tax money is being sucked down the drain. The pain is just beginning.</blockquote>
Exactly, the pain is just beginning with this black hole. These losses will keep on going and going until someone decides to pull the plug. I have a funny feeling that if AIG were allowed to go BUSTO, Goldman Sachs would have gone down with them.
 
Yes, someone needs to go to jail. Let's start with the people who are bailing them out and work backwards!
 
I think all the upper guys should get the golden jail handshake. The compensation board should ALL be fired along with these losers.



OH well, i'll stop ranting.

-bix
 
I have a question about Market CAP.



AIG shows that they have a market cap of $1.16 billion as of today. I guess that this means all their stock times the market price equals $1.16 billion. Now the government has given them 180 billion dollars. If the company is only worth 1.16 billion, how can the government give them 180 billion as a loan? This is confusing.
 
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