Word is that AIG will be asking the United States government for billions upon billions of more taxpayer dollars.
The reason? Well, the company is anticipating a loss than exceeds $50 billion dollars for this quarter (yes, you read that correctly--a private company is about to report an over $50 billion quarterly loss and, yet, will continue to apparently exist).
Folks, this alone is outrageous. At some point, a company that keeps losing TENS OF BILLIONS of dollars is simply not a viable company. It exists only as an extension of the federal government's funding. Any guise that AIG remains a "private" company is strictly that: a fiscal disguise.
But wait. There's more.
The excellent Market Ticker blog wonders if there might be more to this story beyond just bad business decisions.
Read the details here.
