From the One Option blog.
Yesterday afternoon we learned that AIG would post the largest quarterly loss by a corporation – ever. In the last quarter they lost $60 billion. That is in addition to the $100 billion they lost last year. When this all started, I remember them needing an $80 billion “bridge loan” until they could sell some assets. The government has already sunk $180 billion into this company and now it needs more to survive.
$60 billion in a quarter, on top of $100 billion last year.
Billion. Not Million.
Bloody hell.
On the upside, the general population is getting used to another 4 zeros on the end of everything. Billion is now common. Trillion is semi-common. Million is old hat. Time people woke up to just how much money there is, and how much of it moves on a daily basis.
And how much of it I/We don’t have… Whats most alarming about this whole crisis is that money doesn’t just disappear, it’s going SOMEWHERE… the question on my mind is where?!?!
Scary times indeed.
How’s life up top these days btw? I see (from your Flickr) you’ve been travelling again? :-)
Um… what comes after a trillion?? Seems like all this crisis is going to force me to learn new words. Spanner in the works with my return, Home office changing the rules rules again, seems like they’re going to want HSMP’s to have a masters degree now(good for you as I imagine most contractors don’t have masters, so this will only reduce supply of contractors), we going to see if we can sneak in before the new rules come in to effect. Just how bad is over there now anyway?