Friday, March 20, 2009

AIG's Good Money Going After Bad?

In his weekly e-newsletter, Rep. John Campbell (R-Newport Beach) totes up the full AIG bill:
All the ire surrounding AIG right now is about the bonuses. But frankly I’m more worried about the $1.6 TRILLION of assets that AIG needs to liquidate from their financial products division. Mismanagement there could easily cost the taxpayers $100 billion or more. And I am worried about their formerly profitable property and casualty as well as life insurance divisions. Taxpayers have invested $80 billion in AIG. We will never get it all back. And we will almost certainly put in more. But any hope of getting any of it back requires the sale of those “good” divisions. But they are sinking fast.

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