U.S. auditors: AIG could repay taxpayers in full

By Associated Press
Posted Jan. 20 at 5:43 p.m.

Government auditors say taxpayers might be repaid in full for the bailout of insurance giant American International Group Inc.

The Government Accountability Office said in a report Thursday that the final cost of the rescue depends increasingly on the strength of AIG’s business and its stock price.

That’s because much the government’s investment has been converted into common shares in the company. The government expects to sell the shares this year to recoup its money.

The report says AIG’s insurance business is stronger, mostly because of the government money it received. The company still held $123.7 billion in bailout money as of Sept. 30.

AIG received the biggest bailout of the financial crisis, worth $182 billion.

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