Insurance Giant AIG Expected To Post Biggest Ever Corporate Loss and is preparing for bankrupcy
Two government bailouts apparently have not been enough to keep one of the world's biggest insurance companies from again teetering on the brink of collapse. Reuters and CNBC television say American International Group will report a $60-billion loss next week. It would be the largest corporate loss in history. AIG is talking with government officials in an attempt to secure even more money, but media reports say the company is also preparing to file for bankruptcy if the talks break down.
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