ok, educate me if you don't mind.. why should stock buyback supercede the fact that AIG took a HUGE loss?
American International Group Inc.'s loss widened to $4.1 billion in the third quarter, driven by volatile markets, a write-off at its plane-leasing unit and profit declines in its main insurance businesses.
AIG's operating loss of $3 billion, or $1.60 a share, missed analysts' consensus estimate of a 63-cent loss.
Separately, the company said its board had approved a repurchase of up to $1 billion common shares.
Thats more than DOuble a loss of what was predicted. Try as you may-I think the loss is gonna hurt stock prices tomorrow-if not tonight, since obviously all the longs have gone to bed for the evening, they all must be senior citizens. Wait till they see how bad earnings are tomorrow, they're gonna spit out their teeth and pee their diapers!!