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Is AIG in need of more stimulus?
Posted: 02/26/10
By: tomgrisafi
Last Friday AIG reported a quarterly loss of $8.9 Billion, and gave off the impression it may need another round of government help. This coming at the same time they are trying to pay back taxpayers on the initial bailout.
In a recent filing with the SEC, AIG stated that without more government support their ability to continue on is a big concern. As it sits today, nearly 80% of AIG is owned by the U.S government.
AIG has been in talks with MetLife about selling their American Life Insurance Co unit, but unfortunately tax complications have post-poned the deal.
Robert Benmosche the chief executive of AIG has a different vision for the company than what's currently in place. His vision is for a smaller AIG, with U.S life and annuity operations and with a global property-casualty core.
Source: Reuters
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