Friday, February 26, 2010

Dig the Grave for AIG

Ticker noted this little nuke in the 10Q for AIG:

AIG has been significantly and adversely affected by the market turmoil in late 2008 and early 2009, and, despite the recovery in the markets in mid and late 2009, is subject to significant risks, as discussed below. Many of these risks are interrelated and occur under similar business and economic conditions, and the occurrence of certain of them may in turn cause the emergence, or exacerbate the effect, of others. Such a combination could materially increase the severity of the impact on AIG. As a result, should certain of these risks emerge, AIG may need additional support from the U.S. government. Without additional support from the U.S. government, in the future there could exist substantial doubt about AIG's ability to continue as a going concern. See Management's Discussion and Analysis of Financial Condition and Results of Operations — Consideration of AIG's Ability to Continue as a Going Concern and Note 1 to the Consolidated Financial Statements for a further discussion.

That's not a comfy blanket.

1 comment:

Jeremy R. Shown said...

there could exist substantial doubt about AIG's ability to continue as a going concern.

Is there anyone that still believes AIG is a going concern?

I believe, as they say, that ship has sailed.