Aig losses = $61 Billion during the last quater, now with 60 working days that = $ 1 billion a day or 10 thousand million Rand a day. or 1.1 billion rand an hour loss, taking a 9 hour working day. HOW can any company lose so much money it boggles the mind?
Write off's on bad assets. That bad asset could be a derivative leveraged to the moon. So the housing market drops 5% a quarter and $15 bil get wiped off the balance sheet......and the US goverment goes and print it and pays it back into AIG's account. Smell something stinking......it's called hyper inflation!!!