AIG collapse tied to value collapse in life sector
(BESTWIRE) The continued deterioration of American International Group Inc. is tied to the asset value collapse that is wreaking havoc across the life sector, AIG Chief Executive Officer Edward Liddy said after the company reported a record $61.7bn fourth-quarter net loss and announced one of the largest corporate restructurings in U.S. history.
"Back in September, our company faced one of the worst liquidity crises I think any company has ever faced...we got through that," Liddy said during in a conference call. "What's happening to us now
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