AIG's Payback to Taxpayers in Doubt

[Joanne98]

Source: ABC


Government Watchdog Says Disgraced Insurance Giant AIG May Not Repay All of Its $182B Taxpayer Tab

One year after the biggest corporate bailout in the country's history, a government watchdog office Monday warned that American taxpayers may not recoup the full $182 billion given to embattled insurance giant American International Group.

One year after the biggest corporate bailout in the country?s history, a government watchdog Monday warned that American taxpayers may not recoup the full $182 billion given to insurance giant AIG.
(/AP Photo)"AIG's ability to restructure its business and repay the government is unclear at this time," the Government Accountability Office said in a new report released Monday.

As of the start of September, the company's outstanding balance of taxpayer aid was $120 billion.

It was a year ago this month year that AIG received the first chunk of a government bailout that has since grown to $182 billion. The federal money, noted the GAO, has since helped stabilize the insurance giant, which this year posted a $1.8 billion second-quarter profit, its first profit since 2007.

However, the GAO said that the company still relies heavily on government help as its source of liquidity and capital.



Read more: http://abcnews.go.com/Business/aigs-payback-taxpayers-doubt/story?id=8632375

[Ruby the Liberal]

1. Wow, really!

No one could have ever expected this. :eyes:

[Horse with no Name]

2. Well duh!

How can a corporation make a PROFIT and give it back to who it belongs instead of the greedy motherfucking carpetbaggers that run the company?
I mean--if they pay US back, how will they afford the lavish bonuses?
Don't we KNOW that living under $1 million a year is destitute poverty???

[KansDem]

3. What do we do now? Wreck its credit score?

Up its interest rate to 39.99%? Charge it $35 for every late payment?

This is all over my head...

[no_hypocrisy]

4. Maybe they would if they stopped their resort vacations and bonuses to their executives.

[Hawkeye-X]

5. Initate the forced government shutdown/breakup of AIG

and offer smaller pieces of AIG to independent insurance companies that are suffering because of AIG's idiocy.

Hawkeye-X

[Autumn]

6. Damn, can we turn them over to collection? n/t

[Demeter]

7. There Was NEVER Any Doubt

They weren't gonna pay, and the Feds weren't gonna make them pay. Next!

[bemildred]

8. Bullshit is not money? nt

[bvar22]

9. But "The Great Wall Street Bailout" saved the World.

didn't it?


NOW we have Your Children’s Money too !!!
And there is not a fucking thing you can do about it!
Now THIS is “Bi-Partisanship” !
Better get used to it!!
Hahahahahahahahaha!


It took Congress less than a week to pass "The Great Wall Street Bailout", and it went into effect immediately.


Health Care for Americans?
Pffft!
What's so urgent about that?

[No Elephants]

14. In that photo, I see only one face around Paulson that seems genuinely happy.

Guess who?

[Psephos]

10. Don't worry, the profits from GM's loan payback and future stock sale will more than cover it...

lol

It took pathological naivete to believe any of the b.s. about these money giveaway programs being "loans."

The cost of the AIG and GM bailouts alone is enough to cover five years of the health plans in Congress...more, if you factor in the interest costs and net present values.

The stimulus bill would cover eight years.

Those two alone would carry us to 2021...and I haven't even scratched the surface.

[Festivito]

11. All that money went back to banks, then BONUSES! /nt

[Myrina]

12. not like any of us ever actually expected to see that check, anyway ....

... had AIG truly intended to pay that money back, it would have been re-routed to some other ponzi scheme like the War on Terra or building that wall along the TX-AZ border ... not sent directly to taxpayers as a 'thank you' or put into schools/highways, etc ...


:eyes: Why do we even bother to hope anymore?

[andym]

13. So they already paid back $62 billion?! Where did they get that kind of money?

Bailout=182 billion
Balance=120 billion
--------------------
62 billion paid

[muriel_volestrangler]

16. According to the report, AIG had assets of about $830 billion in June 2009

but it also has liabilities (for instance, in June 2008 is had $447 billion of exposure in CDOs). So the money to repay is there if it doesn't have to pay out too much too soon, and it can sell some of its assets at good prices. It's done one or two things like sell subsidiaries.

[Hepburn]

15. Please ~~ disban and break up this bullshit corporation.

They are bottom dwellers ~~ to the max!

[Solly Mack]

17. Golly

[Nuclear Unicorn]

18. We should've saved the receipt.