The company reported a $62 billion loss in the fourth quarter -- on its way to a $99.3 billion loss for the year - that appears almost understandable.
AIG details significant items (losses) totaling $64.1 billion. These are the top 10 significant items:
No. 10: $1.2 billion in foreign-exchange and other realized capital losses. Which is about the same amount that: a.) North Carolina said it would need in the next two years to keep the state's health plan from collapsing; and b.) General Motors (GM) said it would cost in fees if the carmaker went into bankruptcy.No. 9: $2.2 billion in derivatives losses on economic hedges not qualifying for hedge accounting. That's the same amount that: a.) Fifth Third Bancorp (FITB) lost in 2008; and b.) the amount New Jersey will receive in additional Medicaid aid.
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