AIG bankrupt, or not?
Insurance giant AIG has reported a loss of $61.7bn (£43bn) in the final three months of 2008 – the largest quarterly loss in corporate history.
And the firm will receive an extra $30bn from the US government as part of a revamped rescue package.
AIG has already received $150bn in financial support – the biggest bail-out by far of any US company.
This company has already received $150 billion, but the US government will still throw good money after bad and try to save it. Since this is an American company, I’m not really too disappointed, but one thing that I notice straight away is the close link between American and British economic policies, almost as if “one hand” is directing the play, behind the scenes.
Why wouldn’t the government allow this corrupt and failing company to go bankrupt and then invest the money into new businesses and successful companies. I wander how many of the AIG directors are close and personal friends with government officials?
There are so many questions around, i am not sure that anyone could answer them accurately!ThanksChris