Articles

AIG Could Ask for More Bailout Money

In economics/money, industry excesses on February 24, 2009 by Editor Z


The behemoth Investment bank American International Group (AIG) may ask the government for additional money from the government after it is expected to post a steep loss in the 4th quarter.

American International Group, or AIG is expected to ask the Federal Government for more money.

NBC News is reporting that the company is set to post a nearly $60 Billion loss; the biggest in US corporate history. If that happens, the company may not be able to stay afloat without more cash from the government.

AIG has already received more than $150 Billion in bailout money, and it might not be able to get any more under the current laws.

The government already owns about 80% of the bank. With the extravagant and frivolous spending these captains have been engaging in since their ship has slowly sunk into the waters of financial oblivion, we might not want to be so eager to give them more.

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