More Government Money For AIG

The company came under fire after asking for payouts to former executives and pricey parties after the first bailout in September.

A man leaves an American International Group office building Tuesday, Sept. 16, 2008 in New York.

Make that nearly $150 billion in aid to the ailing insurance giant American International Group. The government announced today it is giving AIG another $40 billion in bailout aid, but with some strings attached. Taxpayers will gain partial ownership. And there will also be restrictions on compensation for AIG executives.

AIG says continued financial market turmoil resulted in a large third-quarter loss.

New York-based American International Group Inc. said it lost $24.47 billion, or $9.05 per share, after a profit of $3.09 billion, or $1.19 per share, a year ago.

Results included pre-tax losses of $18.31 billion tied to the declining value of AIG by catastrophe losses and charges related to restructuring.

Excluding items, operating losses totaled $3.42 per share -- missing analysts' average loss estimate of 90 cents per share, according to Thomson Reuters.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 34193839 -
Gray Television, Inc.