AIG

I have been blogging about my AIG related fears for some time now and the news that AIG has reported a loss of $61.7bn for the final three months of 2008 (the largest quarterly loss in corporate history) has not cheered me up. The news just gets worse when you learn that AIG will receive an extra $30bn from the US government as part of a revamped rescue package, this is in addition to the $150bn in financial support (the biggest bail-out of any US company) so far received.

AIG on on the precipice and as I blogged before if AIG goes the whole world economy will look very very very fragile.