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Friday Jul 4 2008
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The 6am cut - Alphaville by email
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AIG loses $7.8bn, says will raise $12.5bn - and its dividend
Talk about mixed messages.
AIG posted a steep $7.8bn first-quarter net loss, wrote down $9.1bn in CDS contracts, said it would try to raise $12.5bn - and then promptly raised its dividend by 10 per cent.
Baffling behaviour for a company that needs to raise fresh capital in order to “fortify its balance sheet” and “enhance its ability to grow”.
Shareholders were similarly unconvinced - the stock fell 8 per cent in after-hours trading in New York.
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buffet’s friends…aig, bsc, swiss re…moody’s,
now he’s moving “upmarket” to c….. insurance;
is there a thread here?
the final end to the ponzi scheme