Monday, March 02, 2009

Too Insolvent to Survive

FEDS Dump $30 Billion More Down AIG Rat Hole.

Patterico asks, "Remember when that seemed like a lot of money?"

AIG posted a staggering $61.7 billion fourth qtr. loss.

AIG's stock plummeted from an over rated high of $49.04/share during April 2008 to a sub-basement low of .45 cents today.

And speaking of racing to the bottom - especially when a certain fearless leader opens his mouth - the Dow falls below 7,000 for first time since 1997.