But I think by any measure, our most pressing strategic priority is the continuing process of restoring the banking sector so that it can contribute to economic recovery. So, I’ll take a bit of time today to discuss progress and what lies ahead. No doubt this will be of some general interest, not just to those of you who are directors at banks.
The Board and Treasury therefore took a series of actions, announced on November 10, 2008, to mitigate the effect of third quarter losses and liquidity drains on AIG and its subsidiaries, and provide for a more stable capital structure.