AIG: The money pit

It’s not as if US Treasury secretary Tim Geithner doesn’t have enough to worry about. Now, American International Group is back. The struggling insurer said on Monday that it continues to “work with the US government to evaluate potential new alternatives”. Unfortunately, Geithner is already familiar with the most likely not-so-new scenario. The company is expected to report a huge $60bn quarterly loss, according to CNBC, after writedowns on commercial real estate. That is a problem for the US ...