2008's Financial Winner's and Losers

Homeowners' Nightmares

This year might be best summed up as the year of foreclosure. In November alone, one of every 488 homes in the United States received a notice of foreclosure, according to RealtyTrac. Many mortgages have been reworked by banks, but it doesn't appear that those modifications are necessarily working.

The Comptroller of the Currency -- the regulator that overseas national banks -- reports that more than half of the mortgages modified in the first three months of this year were delinquent within six months. And the Mortgage Bankers Association reported earlier this month that about one in 10 homeowners were late or in foreclosure.

Insurance Giant's Collapse

Many people lost money when insurance giant American International Group, or AIG, was taken over by the government. In a matter of days, the company's shares became nearly worthless.

One of those who lost the most was Maurice "Hank" Greenberg, who spent 27 years as CEO of AIG.

"I've lost my entire net worth, literally my entire net worth," Greenberg told ABC News at the time. "I worked 40 years building the greatest insurance company in history, one that everyone in the world envied -- who was in this industry."

Greenberg lost roughly 95 percent of his assets, valued around $3 billion, analysts said at the time. But don't feel too bad. At the time of AIG's collapse, Greenberg, privately or through the companies he runs, still owned a private jet, an office on Park Avenue and homes in New York City and Brewster, N.Y.