The U.S. government's fiscal watchdog said today that the federal government could ultimately make more than $15 billion from its investment in American International Group, an investment the government said was necessary to save AIG from insolvency.
The investments were made starting Sept. 16, 2008.
Besides the facilities, backed by bonds of various of various quality, and the stock of several AIG subsidiaries that have since been sold in whole or in part, at one point the cash loans to AIG by the Treasury Department and the Federal Reserve Bank of New York were as high as $225 billion.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
