AIG Again

Well, it looks as if the largest welfare sponge, AIG is now dawdling on its asset sales to return to viability:

The CEO of U.S. insurer American Insurance Group, which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets may delay the sale plans, though certain units have attracted heavy interest.

The translation here is: as long as we can rely on our sugar daddy at the US treasury, we won't sell until prices go up, and if we run short on cash, we'll hit up the taxpayer for some more.

And they will need more taxpayer money, because they are selling insurance at rates that are clearly below cost, so as to rebuild their market share.

They don't care that they lose money on each sale, Uncle Sugar will bail them out...Again...and Again...and Again...and Again...