From NY Post:
American International Group Inc., once the world's largest insurer, said Monday it lost $61.7 billion in the fourth quarter, the biggest quarterly loss in U.S. corporate history, amid continued financial market turmoil.
The results come as the U.S. government announced a restructuring of a bailout plan for the troubled insurer, extending $30 billion in additional aid to the company.
And more from the Post:
The US government is set to dole out an additional $30 billion to AIG, according to people familiar with the matter, raising concerns the insurance giant deemed too big to fail is fast becoming a black hole for taxpayer dollars.
The new cash infusion would be American International Group's third since September. It would be paid in the form of a line of credit from the Troubled Asset Relief Program, or TARP, a person familiar with the situation told The Post.