Staggering news out of CNBC. AIG needs more funds from the U.S. government due to a $60B loss (yes, billion) in the upcoming quarter. What’s alarming here is that AIG is likely being a bit more open than most other companies due to their unique relationship (nationalized) with the government. They have nothing to hide at this point. If AIG is losing that kind of money in a single quarter you have to assume that the losses across the financial sector are staggering and likely not being reported accurately.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.