And they are big holders of Fannie and Freddie preferred stock:
American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz), the world's largest insurer, holds between $550 million and $600 million in Fannie Mae and Freddie Mac preferred shares, according to a source familiar with the investment.
Remember that one part of the government bail-out of these companies is the government will get a super-preferred share that will supercede common and existing preferred shareholders. It has been speculated this arrangement would essentially made the existing common and preferred shareholders take the brunt of the damage. That includes AIG -- a company whose stock chart says "we're in trouble."
Hat tip Atrios.