GAO Questions Recovery On AIG's Bailout

Law360, New York (September 22, 2009, 12:42 PM EDT) -- A $120 billion government bailout may have helped pull troubled insurance giant American International Group Inc. back from the brink, but the company's ability to repay federal largesse hinges on its still-uncertain future business prospects, a new government report says.

In its seventh report on the Troubled Asset Relief Program, released Monday, the U.S. Government Accountability Office focused on the controversial and considerable government support extended to AIG in 2008, stating that the Federal Reserve and the U.S. Department of the Treasury had succeeded in their...
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