Credit Crunch Slams AIG
AIG reported a record $7.8 billion loss and said it will raise $12.5 billion in capital to replenish its balance sheet. The insurer’s results, which included a $9.1 billion write-down, show that while the credit crunch may be easing on Wall Street, it appears to be tightening elsewhere.
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Posted on May 10th, 2008 by
Filed under: stock news
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