American International Group, rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, according to press reports.
It would be the biggest loss in a quarter in corporate history, according to Reuters.
The $60 billion would exceed Time Warner’s $54 billion single-quarter loss in 2002 and dwarf the $24.5 billion loss A.I.G. posted in the third quarter, when the government increased its rescue package for the insurer to about $150 billion.
via New York Times.
