NEW YORK (AP) – American International Group Inc. managed to lose $62 billion in just 92 days. That’s nearly $470,000 a minute. And it’s more money than Bill Gates’ net worth.

The insurance giant’s quarterly loss reported Monday was the biggest in corporate history, topping the previous record of about $45 billion set by Time Warner Inc. during the fourth quarter of 2002.

That news came as the government said it would plunge another $30 billion in taxpayer money into the ailing New York-based company, which already has received some $150 billion in U.S. aid since September.

AIG lost more in the fourth quarter of 2008 than it made from 2001 to 2007, when net income totaled more than $58 billion.


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