AIG wants another 60 billion dollars
The US insurance behemoth the American Insurance Group, which reported over 20 billion dollar loss in the third quarter of 2008 due to the sub-prime crisis related issues, has now asked for an unbelievable 60 billion dollar dole out from the US government. The group is expected to report the worst ever quarterly loss running into over 50 billion US dollars for the 2008 fourth quarter, which will be the highest loss for any company in a quarter ever. Nobody knows as to whether the AIG problem will be over after this 60 billion bailout. The US government cannot afford to allow AIG to go bankrupt. Either way it is loss for the US and its citizens.