LevonP
10-07-2008, 01:14 AM
Latest on AIG and Freddie Mac from FT.com
http://us.ft.com/ftgateway/superpage.ft?news_id=fto080620081952244246
American International Group (NYSE:AIG) and Freddie Mac damped hopes for an easing of the financial crisis on Wednesday after reporting another quarter marked by billions of dollars of credit-related writedowns and substantial losses.
Freddie, the US government-backed mortgage financier, set the gloomy tone in the morning unveiling its fourth straight quarterly loss and slashing its dividend after suffering $3.5bn in credit provisions and writedowns.
AIG, the ailing insurer that replaced chief executive Martin Sullivan in June, deepened investor concerns after the market closed, reporting a $5.4bn second-quarter loss after more than $12bn in writedowns and credit losses.
http://us.ft.com/ftgateway/superpage.ft?news_id=fto080620081952244246
American International Group (NYSE:AIG) and Freddie Mac damped hopes for an easing of the financial crisis on Wednesday after reporting another quarter marked by billions of dollars of credit-related writedowns and substantial losses.
Freddie, the US government-backed mortgage financier, set the gloomy tone in the morning unveiling its fourth straight quarterly loss and slashing its dividend after suffering $3.5bn in credit provisions and writedowns.
AIG, the ailing insurer that replaced chief executive Martin Sullivan in June, deepened investor concerns after the market closed, reporting a $5.4bn second-quarter loss after more than $12bn in writedowns and credit losses.