This Day in Failure: March 2

2009: American International Group, Inc., formerly the world’s largest insurer, announces that it lost $61.7 billion in its most recent quarter, making this the largest quarterly loss in U.S. corporate history.

1877: A special Electoral Commission declares Republican Rutherford B. Hayes the winner of the previous November’s U.S. presidential election, despite the fact that Democrat Samuel J. Tilden won the popular vote. Hayes’ campaign managers had challenged the validity of the returns in Florida, South Carolina and Louisiana.