GAO: AIG may never repay government
Despite some progress, congressional investigators on Monday cast doubt on whether efforts by American International Group Inc. to restructure its operations and pay back the government will ever prove successful.
Still, the company's shares jumped about 15 percent after the head of the House Committee on Oversight and Government Reform said that panel will examine a plan to reduce the AIG bailout package.
In the biggest taxpayer-funded bailout of a single company, the Federal Reserve and Treasury Department have provided $182.3 billion to the insurance giant. The Government Accountability Office said that as of early September, AIG's outstanding balance of aid was $120.7 billion.
The GAO found "some progress in AIG's ability to repay the federal assistance." But improvement in the company's stability depends on its long-term health, market conditions and continued government support.
pittsburghlive.com
Still, the company's shares jumped about 15 percent after the head of the House Committee on Oversight and Government Reform said that panel will examine a plan to reduce the AIG bailout package.
In the biggest taxpayer-funded bailout of a single company, the Federal Reserve and Treasury Department have provided $182.3 billion to the insurance giant. The Government Accountability Office said that as of early September, AIG's outstanding balance of aid was $120.7 billion.
The GAO found "some progress in AIG's ability to repay the federal assistance." But improvement in the company's stability depends on its long-term health, market conditions and continued government support.
pittsburghlive.com
Comment
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
The 100 Series Designated for SAC and a Possible WWIII
The “100 Series” as these fighter aircraft were labeled were a succession of Mach II capable…See More
Human Be-In - Full Program - 1/14/1967 - Polo Fields, Golden Gate Park (Official)
Human Be-In - Full ProgramRecorded Live: 1/14/1967 - Polo Fields, Golden Gate Park - San Francisco, CAMore Human Be-In at Music Vault: http://www.musicvault....
"So sad to see a nice place be ruined by its inhabitants.... It's that shitholeness spreading…"
"Jesus Christ this is more diabolical than just about anything I've studied even though I knew…"
"Less Prone Nothing wrong with the planet. It's the inhabitants who are the problem."
"That assignment on the blue planet intrigued me a lot. And here we are now! I cannot say it's…"
Sebastion Piñera and 5G
Sebastion Piñera “The start of the bidding process for the 5G network. Let’s listen to the threats…See More
"cheeki kea that was damn funny and cute. Always appreciate your insights and memes! Wish I had a…"
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network