Treasury Secretary Tim Geithner had every reason to think he had seen all of AIG's dirty laundry. The government owned 80% of the company, and Geithner had just orchestrated AIG's most recent handout — its fourth, if you are keeping score, for $30 billion on March 2 — to prevent the teetering insurance giant from going over the cliff and taking the rest of the global financial system with it. AIG had already cost the taxpayers some $170 billion, mostly to repair the damage done by one of its units, AIG Financial Products (AIG FP), which last year alone piled up $40 billion in losses related to its dealings in complex mortgage bond derivatives.
WW2 was finished. Today's Germans are nice people, not the people of former #$%$ party anymore. Italians are no longer people of Mussolini, Russians are no longer red Stalin's, China now a capital country, wake up man!
Dude tell me where were you hiding for the past couple of years, don't you know the moneys have been repaid and the tax payer made about 17 billions in profit. Are you shorting the stock, please get informed.
Oh dear, new management, new board, new shareholders, new model, old grudges. Under Benmosche's guidance everything has been paid back with interest. It would be interesting to see AIG successfully gaining the right to sue BofA whose culpability was far worse. AIG's old motto "We Know Risk" has been amended to "We Know Insurance Risk" so you should be safe investing again :P