3.02.2009

US govt gives more of our money to big fat corrupt loser AIG

"Meaningful progress?" I'll show you meaningful progress. Write the value of your betting slips to zero, close your doors and go to jail. That would be meaningful progress. - Ed.

American International Group Inc. (AIG) reached a new deal with the U.S. government for continued support for its restructuring as the insurance giant's posted a record quarterly loss on $64.1 billion in write-downs and charges.

AIG's shares were recently up 7.6% at 45 cents in premarket trading. The stock is off 73% so far this year.

Chief Executive Edward M. Liddy said Monday that the company has made " meaningful progress" in addressing its liquidity issues, but it's taking more steps to preserve the value of its business amid the economic and capital-market turmoil.

Read more @ CNNMoney


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