Last week I did a "Quick and dirty analysis" of the Dow. Readers seemed to enjoy it, so this week I thought I would take a look at AIG.
I am still trying to wrap my head around a 4th Quarter Loss of $62 BILLION (which - as you can guess - is the single largest quarterly loss in history). And of course the only logical thing to do is for the Treasury Department to give them another $30 BILLION on top of the $150 BILLION it has already "lent" AIG.
I think people are becoming desensitized at the magnitude of these numbers:
> $62 BILLION quarterly (QUARTERLY) loss
> $180 BILLION "lent" to AIG by the Treasury Department
And look how fast AIG's collapse occurred:
1.) Less than 18 months ago, AIG traded above $70/share.
2.) A year ago, AIG traded above $50/share.
3.) Six months ago, AIG traded above $20/share.
Yesterday's closing price was $0.43 (43 cents).
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