AIG May Have Zero Value After Rescue, Citigroup Says

Bloomberg News:

American International Group Inc., the insurer bailed out four times by the government, fell the most in nine months after Citigroup Inc. said the firm may have no value left for shareholders after repaying the U.S.

Read the whole story: Bloomberg News

Comments

[CitizenKane16]

They are robbing the shareholders and paying themselves with the money - their reverse split was simply criminal!

[lightningbolt]

I don't care what happens to AIG as long as the bailout is paid back.

[moxieme]

I navigated to the story and navigated right back without reading it. Why? Value...do these criminals really think we don't know they have boatloads of cashed away in some of their hidden unregulated hedge funds. They have taken this "too big to fail" madness into overkill. Let them live the way most Americans are living today, from paycheck to paycheck.

[Cameleon]

"The GENUS'S that they are they will add a Plus sign in front of the zero and everything will be solved, see?

[Francis99]

Teddy Roosevelt would have known what to do with both AIG and Citi. Wouldn't have been to big to fail after his medicine. And the irony is that at least one of the firms Teddy dealt with, and had divided into 30 different companies, became larger than the pre-busting corporation it came from. So much for the theory of tearing things apart destroy them.

[rf dude]

OH, it has VALUE alright!

Just ask those AIG execs that are gonna rake in ANOTHER bonus shortly.

It sure beats workin' for a livin'...
--

[WIpatriot]

Zero shareholder value = failed. Not too big to fail after all, are we?

[GroundhogBoy]

Their reverse split was one of the dumbest business decisions that they've made (and that says a lot). It's been a short seller's dream. I thought about shorting after it had fallen to $16, but didn't because I thought it had come down too fast. Kicking myself now...

[BigBagel]

It's a hoot. Down almost 28% today.

[DiogenesOfAlaska]

AIG: citi may have zero value after rescue.

[HekmabaJuzimax]

Now I understand why they were partying and taking those trips. A going out of business celebration, you might say.

[fcsakes]

Groovy.