Another Handout for AIG
Citing the "systemic risk" that would follow the collapse of insurer American International Group (AIG), the government on Mar. 2 announced another bailout for the company, restructuring the terms of existing loans and extending another $30 billion in credit. Meanwhile, AIG reported a huge loss of $61.7 billion in the fourth quarter—the largest in American corporate history. Most of the losses result from restructuring charges and writedowns on the value of assets.
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