Friday, August 7, 2009

AIG

The much loathed corporation that has become infamous today is making a comeback. The insurer on Friday reported a l.8 billion dollar profit which for shareholders now means their stake in AIG is now worth $2.30 each.

The last time the insurance company generated profit was in the third quarter of 2007.

AIG now currently owes the American taxpayer 82.2 billion dollars during the entire length of the crisis their total response was to only sell 25 of their assets for a grand total of 7.3 billion dollars. The drowning Goliath also failed to pay their dividend payment on the 40 billion dollars they received in TARP money.

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