AIG Bailout Visualized

This morning on CNBC, David Faber brought to attention a picture which viewers have been sending in, attached with the caption: "AIG Bailout Visualized". As you can see, the picture -- a car (representing AIG) being yanked out of the sea by a tow truck (representing the government) -- does do a great job of describing the current situation at AIG (NYSE: AIG). With some detective work and a little help from Google search, however, I found that there was much more to the story.

Lets take a look at what happened during the process of recovering this car, something I feel which even more accurately chronicles what is happening at the world's largest insurer:

This brings us back to September 16, when the US announced AIG's initial $85 billion bailout...



...but that didn't work...





...here's the next tranche on October 8, adding $38 billion to the bailout...





...RATS! still not working...



...and finally, the revised plan on November 10...


...and yeseterday we heard reports that AIG could still need more funding. This sequence of pictures ends after that last tow truck, but will AIG need another tow truck?

When will it end?!

-pictures from hypedup.co.uk

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