$60 billion loss next MONDAY FACT OR FICTION

AIG's statement came after cable network CNBC reported that the company will report a $60 billion loss next Monday and is seeking more government support.

The loss may trigger more ratings downgrades, which would leave AIG needing to raise more collateral, according to CNBC's David Faber. The law firm of Weil, Gotshal & Manges is preparing a bankruptcy filing for AIG

AIG may look to convert preferred shares held by the government into common stock, Bloomberg reported, citing an unnamed source

AIG's discussions, said the losses to be announced next Monday were due to writedowns on commercial real estate and other assets

AIG said in a statement it had not yet reported results and would provide an update when it does so in the near future.


This is a whole lot to handle MY friends however SINCE AIG CAME OUT AND SAID IT HAS NOT been reported yet, only rumors can change the market as they are doing us with AIG most of us are in now for the long hall SO WE can take the hit knowing later our pockets will be filled.