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What Is Happening With AIG?

Law360 (March 4, 2009, 12:00 AM EST) -- On March 2, 2009, American International Group Inc. ("AIG") announced a loss of $61.7 billion for the fourth quarter of 2008, a total net loss for 2008 of $99.29 billion and a major restructuring of its operations, including a new federal infusion of $30 billion, forgiveness of certain debts and relaxation of prior bailout terms.

For comparison purposes, all insured losses for all insurance companies (not just AIG) relating to Hurricane Katrina are estimated at slightly more than $40 billion.

Obviously, losses of more than $60...
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