The Washington Post reports that AIG, in a little more than a month, has already spent three-quarters of its $123 billion rescue loan. That's like 500,000 Sarah Palin shopping sprees. And, the best news of all is that, despite the largest taxpayer bailout in history, AIG's new CEO warned that that the company may fail anyway. The company has been unable to sell off major assets in order to repay the government loans due to its damaged credibility and the difficulty of securing credit and financing. According to the Post, "Wall Street analysts said this is a vulnerable juncture for the insurance giant. It's now in a deep trough--from which it may either emerge leaner and meaner or never return."
Read it at The Washington PostTrending Now
