Yet another HUGE event

It’s Fed Day, but that isn’t the big story at the moment. Right now, all eyes are on insurance giant AIG, which is in very serious trouble. The company is in desperate need of around $75 Billion and it has until today to shore up this capital, otherwise it could face bankruptcy.

This story is far reaching as AIG is a worldwide company, with $1 Trillion in assets and operating in 130 countries. Think about this – AIG provides insurance in all facets of life, from car to life insurance – and should AIG go bankrupt, claims around the world would not get paid – that is scary to imagine. We will see what happens in the next several hours as this story develops¹

1. Alex King – King Financial [↩]

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