No company has ever lost as much as AIG did last quarter. All told, it lost almost $100 billion last year, with $61.7 billion of those losses in just the last quarter of 2008. Few companies have ever been worth that much, or been able to put anything like that much at risk. It’s almost unfathomable.
Let’s see if we can break it down into a more reasonable number.
Every day AIG lost: $670 million.
Every hour AIG lost: $27.9 million.
Every minute AIG lost: $465 thousand.
Every second AIG lost: $7,750.
That’s more like it. It means that every six and half seconds, AIG loses the equivalent of the median household income in the US.