American International Group Inc. (AIG) is screwing over America… The United States Government which has invested $170 billion to keep AIG alive, and government officials acknowledged the company may need more money if the economy worsens.
On Monday, AIG reported a $61.7 billion fourth-quarter loss that brought losses for 2008 to $99.3 billion. Its assets also shrank, from over $1 trillion as of Sept. 30 to $860 billion at year-end 2008.
In the fourth quarter, AIG took $13 billion in charges on distressed investments, particularly related to commercial mortgages. Another $7 billion hit came from interest and other costs associated with a federal loan central to the bailout. Source: Wall Street Journal
Lets put this in to numbers we can comprehend.
Every day AIG lost: $670 million. 670,000,000
Every hour AIG lost: $27.9 million. 27,000,000
Every minute AIG lost: $465 thousand. 465,000
Every second AIG lost: $7,750.
I believe that the corporate management team aka the board of directors should be held accountable and the group should be brought to justice. I believe the members should be stripped of all personal and business assests including cash, retirements, homes, cars, jewelry, art and anything that can be sold for cash to go to the government for paying their bill. I believe they should all go to prison.
To help put them behind bars I have created the AIG’s 11 Most Wanted Fugitive List.
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Stephen F. Bollenbach
Former Co-Chairman and Chief Executive Officer Hilton Hotels Corporation |
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Dennis D. Dammerman
Former Vice Chairman of the Board General Electric Company Former Chairman GE Capital Services |
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Martin S. Feldstein
Professor of Economics Harvard University President Emeritus National Bureau of Economic Research |
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Edward M. Liddy
Chairman and Chief Executive Officer American International Group, Inc. |
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George L. Miles, Jr.
President and Chief Executive Officer WQED Multimedia |
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Suzanne Nora Johnson
Senior Director Former Vice Chairman The Goldman Sachs Group, Inc. |
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Morris W. Offit
Chairman Offit Capital Advisors LLC Founder and Former Chief Executive Officer OFFITBANK |
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James F. Orr III
Chairman of the Board of Trustees The Rockefeller Foundation |
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Virginia M. Rometty
Senior Vice President Global Sales and Distribution IBM Corporation |
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Michael H. Sutton
Consultant Former Chief Accountant of the United States Securities and Exchange Commission |
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Edmund S. W. Tse
Senior Vice Chairman, Life Insurance American International Group, Inc. |
Source: AIG Board Of Directors
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