AIG posts huge 4th-quarter profit on tax benefit

[sarcasmo]

Snip< Bailed-out insurer American International Group reported a $19.8 billion profit for the fourth quarter, after an accounting change that allowed the company to record an enormous one-time benefit.



Snip< Some of the allowance, related to the company's life insurance business, was not released, a determination that future profits are not as immediately certain there. It may still be released in the future, though, which would again add to the company's bottom line.




http://www.reuters.com/article/2012/02/23/us-aig-idUSTRE81M21E20120223

[Octafish]

1. We shudda nationalized AIG.

Instead, We the Mopes bailed Them out to the tune of $238 billion and now the crooks get to keep the loot and the grease. Nice.

http://www.commondreams.org/headline/2010/01/07-5

[DocMac]

2. I wonder who bought shares

the day before the bailout was known. I wonder if that info is available?

It should be.