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February 28, 2008: AIG Halts Stock Buyback Program, in Response to Fourth Quarter Loss

2008-02-28

Following the announcement of a major loss for the fourth quarter of 2007 (see October-December 2007), the insurance corporation AIG halts a program to buy back shares it announced the previous year (see November 14, 2007). In addition, the loss prompts AIG to say for the first time that realized losses in derivatives known as credit default swaps could affect operations during a quarter. [Bloomberg, 9/16/2008]