Monday, May 18, 2009
Will AIG Ever Pay Us Back?
BNET.com Columnist Ed Leefeldt Weighs In On The Issue For 60Minutes.com
Ed Liddy, the man who took over the reins of AIG ?- the failed insurance giant to which the government has made $180 billion available in aid ?- speaks to Steve Kroft about the gargantuan task ahead. | Share/Embed
As we taxpayers poured $180 billion into American International Group, the insurance colossus brought down by a rogue derivatives trading division, we were told that the company’s main lines of business were fundamentally strong.
AIG’s core property, casualty and life insurance units were said to be rock solid assets that could in a reasonable amount of time earn enough money to pay back the rescue loan. However, that promise never took into account the damage the rescue loan itself would to AIG's reputation. Now the taxpayers' payday looks more remote than ever...
CBS: Will AIG Ever Pay Us Back?
Ed Liddy, the man who took over the reins of AIG ?- the failed insurance giant to which the government has made $180 billion available in aid ?- speaks to Steve Kroft about the gargantuan task ahead. | Share/Embed
As we taxpayers poured $180 billion into American International Group, the insurance colossus brought down by a rogue derivatives trading division, we were told that the company’s main lines of business were fundamentally strong.
AIG’s core property, casualty and life insurance units were said to be rock solid assets that could in a reasonable amount of time earn enough money to pay back the rescue loan. However, that promise never took into account the damage the rescue loan itself would to AIG's reputation. Now the taxpayers' payday looks more remote than ever...
CBS: Will AIG Ever Pay Us Back?
Permalink posted by markw @ 5:17 AM 
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