Thursday, September 30, 2010

Hard To Believe - AIG to Repay Government
AIG took over $180 billion in tax payer "bailout" funds during the credit crisis.  It has filed to repay this money.  I thought that the government would never get its AIG money back.  While most other Wall Street firms have repaid their TARP money, I figured the AIG money was lost.  If you don't remember, AIG got in trouble because it provided unregulated insurance, in the form of credit default swaps, to other Wall Street firms, protecting these firms against losses against their subprime debt securities and other, similar, securities.  I still hear complaints about "bank bailouts," but with AIG, the largest recipient of tax payer money, attempting to repay its government money it is hard to argue against the success of TARP.

UPDATE:  Ooops.  I had a typo in the original post.  The correct amount to bailout AIG was $180 billion, not $180 million.

1 comment:

Anonymous said...

$180 billion