American International Group, in a gloom and doom discussion paper, has warned regulators that unless it is kept afloat, there would be "turmoil in the U.S. economy and global markets."
The "strictly confidential" document--titled "AIG: Is the Risk Systemic?"--has undergone several drafts. The one obtained by NU Online was dated Friday, March 6, and was prepared with government input, NU learned.
After reporting a $61.7 billion fourth-quarter loss last week, AIG announced that the terms of government support for the conglomerate that operates in 140 countries was eased, with regulators agreeing to provide $30 billion in additional capital.
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