AIG Lost Nearly $9 Billion In 4th Quarter

Insurance giant AIG announced Friday it lost $8.87 billion in the last quarter of 2009. In the same quarter the previous year, AIG lost more than $60 billion.

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STEVE INSKEEP, host:

The troubled insurance company, AIG, is at the top of our business news today.

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INSKEEP: AIG says it lost $8.9 billion in the last quarter of 2009. That counts as good news because in the same quarter the previous year, the company lost more than 60 billion dollars. If you recall, AIG is the gargantuan insurance company that lost so much money in the financial crisis that it needed about $180 billion in government bailout money.

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