AIG US insurance plunges by 60%

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martien007
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AIG US insurance plunges by 60%




by martien007 » 16/09/08, 16:58

and the show continues, the show must go on : Shock:

http://www.romandie.com/ats/news/080916 ... cj4txp.asp

a very small "box":

The action of the insurer AIG plunges by nearly 60% in New York

NEW YORK - The action of the American insurer AIG plunged Tuesday on the New York Stock Exchange by 58,40% at 13:45 pm GMT to 1,98 dollar, after the main rating agencies downgraded its ratings, which has moved closer to filing for bankruptcy.

The title has lost 89% since Thursday evening and 97% since the beginning of the year.

In quick succession, the three main agencies - Standard & Poor's (S&P), Moody's and Fitch - reduced the group's debt ratings.

“It's getting harder for them to borrow,” said Marc Pado of Cantor Fitzgerald.

AIG will indeed have to find considerable sums to guarantee its contracts, since its only good reputation is no longer enough, when it was already looking for money to ensure its daily management.

"And if they can't find the money by tomorrow, they will probably have to file for bankruptcy to protect themselves from their creditors," Pado warned. "They have no choice," added the analyst.

AIG has 74 million customers worldwide, mostly American, who would find themselves without insurance in the event of company bankruptcy. It employs 116.000 people in 130 countries
....... more in the article.
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bham
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by bham » 16/09/08, 17:07

And I would like to repeat your quote from the other thread on the price of a barrel:
martien007 wrote:
"If AIG sinks, it will be an incredible thunderclap. AIG has more influence on oil prices right now than Saudi Arabia," said Larry Grace (Kim Eng Securities).
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by Christophe » 16/09/08, 17:07

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martien007
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by martien007 » 16/09/08, 17:29

!!!
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