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AIG Under Troubled Asset Relief Program


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AIG Under Troubled Asset Relief Program

Witnesses testified on the $133 billion American International Group (AIG) received under TARP (Troubled Asset Relief Program). Panel Chair Elizabeth Warren in her opening statement called AIG a “corporate Frankenstein” and said the “costs of their mistakes should have been borne by AIG and its partners” and not the American taxpayers. Federal Reserve General Counsel Scott Alvarez said he has no expectations that AIG would need additional funds from the Federal Reserve and that AIG is on a “path of sustainability.”