Monday, September 21, 2009
Post by David Held
Congressional Report Says A.I.G. Has Stabilized
MARY WILLIAMS WALSH
Published: September 21, 2009
The research arm of Congress reported on Monday that the American International Group’s financial condition had stabilized but said it was not clear whether the giant insurance group would ever be able to restructure and repay its federal rescue package.
The Government Accountability Office’s new report on the bailout of A.I.G. coincided with word that a senior House Democrat was planning to push for an easing of A.I.G.’s terms on its government debt.
Representative Edolphus Towns of New York, the chairman of the House Committee on Oversight and Government Reform, was said to be considering debt relief after meeting last week with Maurice R. Greenberg, A.I.G.’s former chief executive, who was forced out during an accounting scandal in 2005.
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