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Friday, February 26, 2010

AIG Q4 Loss $8.9 BILLION

American International Group, Inc. (AIG) today reported a net loss attributable to AIG common shareholders of $8.9 billion for the fourth quarter of 2009, or $65.51 per diluted common share, compared to a net loss of $61.7 billion or $458.99 per diluted share in the fourth quarter of 2008. Fourth quarter 2009 adjusted net loss was $7.2 billion, compared to an adjusted net loss of $38.5 billion in the fourth quarter of 2008.

AIG also stated it might need additional government support as obligations come due.

17 months have passed since the initial government bailout of AIG and $182 billion later, AIG states it might need additional government assistance!

2/10/2010: Ben Bernanke reiterated that he expects the Fed will “ultimately incur no loss” on the Bear Stearns and AIG bailouts ($116 billion is the Federal Reserve portion).

AIG Q4 Report Link

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