On September 21, 2009
Are AIG’s Enemies Becoming Frenemies?
What happens when you look at embattled insurer American International Group through rose-colored glasses? Your enemies become “frenemies.” U.S. Rep. Edolphus Towns (NY) said through an aide that he may talk with the U.S. Treasury Department to modify the $182 billion bailout package that AIG received last year when the trillion-dollar company nearly fell apart after the collapse of its financial products unit. As one of AIG’s biggest gadflies, Towns has been a source of much pain and bad publicity for the insurer. But since he is also head of the House Oversight and Government Reform Committee and therefore privy to the inner workings of AIG, his opinions (if he’s changed his mind) just might carry some weight. Will it…
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