AIG Continues To Bleed....Badly!

American International Group (AIG) incurred a record loss of US$62 billion last quarter!

Here are some startling statistics:
- The loss occurred in just 92 days, i.e., $470,000 a minute! And it's more money than Bill Gates' net worth.

- The quarterly loss was the biggest in corporate history, topping the previous record of about US$45 billion set by Time Warner Inc. during the fourth quarter of 2002.

- AIG continues to bleed, despite U.S. Government bailout fund of US$150 billion! Now AIG is asking for another US$30b!

- AIG's quarterly loss is about 12 times the $5.3 billion it lost in the same quarter of 2007. That was more than half the US$114.53 billion lost by nearly all other Standard & Poor's 500 companies combined in the fourth quarter. This represents also the first quarter ever that the S&P 500 has tallied a loss.

- AIG lost more in the fourth quarter of 2008 than it made from 2001 to 2007!

- If $62 billion was distributed across the U.S. population, Americans could each get about $200!

- AIG's loss amounts to 92 percent of the US$67.4 billion that Americans spent at world's largest retailer Wal-Mart Stores in the fourth quarter, which includes the holiday season.

- It would take a person spending $1 million per day, everyday, the next 169 years to spend as much money as AIG lost during the fourth quarter, which lasted just 92 days!

I really wonder how on earth a once proud insurance giant would now become such a miserable sick patient?!