AIG reports $7.8 billion 1st quarter loss.
 

SAN FRANCISCO (MarketWatch) -- American International Group (AIG: 44.15, -0.93, -2.1%) reported a $7.81 billion first-quarter net loss late Thursday and announced plans to raise $12.5 billion selling new shares, equity-linked securities and fixed-income securities with a large equity component included.

http://www.marketwatch.com/news/stor...%7D&siteid=bnb

Ouch. Does it say what the projection was?

They were expected to lose $0.76 per share and lost $3.09 per share.

They took a big loss on their credit default swaps. Someone else made some money on those.

Man,did Bill Miller buy every POS stock this year? I can't believe what has happened this year with him. Financials are a tricky business.