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Thursday, May 08, 2008

AIG: Q1 loss of $7.8 billion

by Calculated Risk on 5/08/2008 04:36:00 PM

More details from the WSJ: AIG to Raise Capital After Big Loss

American International Group Inc. announced plans to raise $12.5 billion in capital as it posted its second straight big quarterly loss. The insurance giant took $9.11 billion in charges on its credit-default swaps and recorded $6.09 billion of investment losses.