C-FIRE Deputy Director R.J. Lehmann provides updates on the Federal Insurance Office’s delayed report, claims taxpayers could “profit” on the AIG bailout and Mitt Romney’s support of the “beach house bailout.”
Elizabeth Warren and other former members of the Congressional Oversight Panel have come forward to criticize the special tax break that allowed AIG to book an $18 billion backdoor bailout.
The common stock sale will reduce the mammoth government bail-out of the insurance giant, which once stood at $182 billion, to $47.1 billion.
AIG has sold off a few more assets and posted big profits in 2011. But the U.S. Treasury continues to play politics in choosing the “right” moment to finally end the bailout.
Deputy Secretary Neil Wolin insists that the Federal Insurance Office will not be a regulator. But as to what it should be, instead, opinion remains very much divided.