NEW YORK (CNNMoney.com) — CNNmoney.com reports that things are looking like there might be egg or, AIG rather, on the face of the US’s largest insurance company. On Monday of this week potentially deadly credit ratings hit the company. According to CNNmoney.com, the ratings indicated AIG’s ability to raise cash “is ‘extremely limited’ because of its plummeting stock price, widening yields on its debt, and its difficult capital market conditions.”
In the past nine months alone, AIG has lost more than $18 billion. AIG’s motto, as indicated on its website is, “The strength to be there.” But to paraphrase Gertrude Stein, there may be no there there.
To read the CNNmoney stories click the following links: