Reply #64: AIG probe finds 'improper' accounting [View All]

[UpInArms]

http://cbs.marketwatch.com/news/story.asp?guid=%7BE49C3FE3%2D289B%2D4B93%2D9DD6%2D91AD8177A3E3%7D&siteid=mktw

Analyst keys to 'depth, breadth of apparent deceptions'

SAN FRANCISCO (MarketWatch) -- American International Group concluded Wednesday that some of its reinsurance accounting was "improper" and masked the company's true financial condition.

<snip>

AIG also warned that it can't yet tell the final impact on its results, past and present.

"The depth and breadth of troubles and apparent lack of accounting controls at AIG is alarming," William Wilt, an analyst at Morgan Stanley, wrote in a note to clients.

"Some investors may take comfort that details are beginning to emerge," Wilt added. "However, we are inclined to focus on the depth and breadth of the apparent accounting deceptions."

...more...

"no impact" hahahahahahaha