Robert Benmosche, AIG CEO: We're On The Way To Paying Back The Taxpayers

bloomberg.com:

April 2 (Bloomberg) -- American International Group Inc. Chief Executive Officer Robert Benmosche said the insurer is becoming less reliant on U.S. aid as it sells units, borrows from debt markets and strengthens operations it intends to keep.

Read the whole story: bloomberg.com

Comments

[SystemLink]

10:01 PM on 04/04/2010

They are back on track to building up funds and then being at risk for another failure at some point in the future

[banker67]

08:11 PM on 04/03/2010

How kind of this man to even mention that he owes his mansions, his Bentleys and his eight-figure 'foreign' bank balances to the American taxpayers. I'll bet he'll get a good ribbing for that at the country club bar this weekend.
Want to make a credible gesture? Announce that neither you nor any of the 100 highest paid AIG executives will take a dime of compensation for the next five years. Nor is this 'deferred' compensation; you''ve already taken 1000 times your fair share, so from now on you'll work for nothing -- just the limos, the gorgeous office and the worshipful support staff. And you'll struggle to pay for your own health insurance out of your own 401K -- like all the Americans you swindled.
The issue is really simple: These men are unabashed thieves who sincerely believe the funniest joke in the world is that they so easily manipulate the American system to steal billions from Americans who actually work for a living.
That they can is the disgrace of our Congress; that they do what they do is shows their own individual and personal lack of character -- other than that of a jackal.

[Tim Hayes]

10:40 AM on 04/03/2010

I do not care if they pay every sent back, that does not prove bailout worked.
It migh prove bailout worked for wallstreet.

So they can keep doing what they were doing knowing if they get in trouble middle class will bail them out.

They never should have been bailed out, so they never should have been anything to payback. If you can't pay bill you go bankrupt.

Without the government, goldman sucks, GE, AIG,and many others would have gone under, and as a society we would have been forced tgo build something better.

All the bailout did was delay this so a bunch of greedy pigs can take more

[sonofsamphm1c]

11:31 PM on 04/05/2010

AIG FP will be unwound, and then it will cease to exist. AIG will sell business units until the taxpayer assistance is paid back. At that point AIG with be a smaller insurance company, and they will not be going back to doing CDS.

The bailout worked. What you are suggesting should have happened could easily have thrown the country into a decade-long depression.

[bluguy8]

07:29 AM on 04/03/2010

Double or nothing. This crook should be arrested

[maxhardon]

03:51 AM on 04/03/2010

As a taxpayer I am not interested in just getting my money back from these crooks, I would like to shake these fruadsters down for every penny they have.

[LizM]

10:39 AM on 04/03/2010

Your anger is clouding your judgement.

[maxhardon]

03:42 AM on 04/03/2010

This little crook Benmosche has my money and I want it back double.

[sonofsamphm1c]

09:50 AM on 04/03/2010

And who would be the crook then?

What really makes you mad is they are paying it back. They sort of eviscerates the silly notion that the bailout was a heist, the biggest transfer of wealth in history, etc..

[ThinkingPatriot]

03:21 AM on 04/03/2010

These criminals should be in jail, along with most of Goldman Sachs and the rating agencies. Well, I guess they "earned" their money the old-fashioned way, they stole it from the taxpayer. Heckuva job Bushie!

[Dee Cortex]

02:17 AM on 04/03/2010

Remember as Neil Barofsky has pointed out:
Tarp repayment is hardly 20% of the bailout each firm received.
These 'banklike' investment houses like Citibank, received billions in asset guarantees in a
other programs from the FED that will never be repayed.

[maxhardon]

02:19 AM on 04/03/2010

Our grandchildren will suffer greatly for these shenanigans. The bailouts benefit only the wealthy, our children will get stuck with the bill.

[sonofsamphm1c]

09:52 AM on 04/03/2010

Which cost almost nothing. One of the guarantees they received was enhanced deposit insurance. The cost of the enhanced deposit insurance to date? Hovering right at zero.

[maxhardon]

01:44 AM on 04/03/2010

AIG is a garbage can into which the wall street banks were allowed to dump their worthless loans. The government picked up the tab and stuffed 180 billion into AIG. It would surprise me we will ever see our money back on this piece of nonsense.

[sonofsamphm1c]

01:59 AM on 04/03/2010

We authorized 182 billion. The actual total lending was less.

Prepare to be surprised.

The loans are not worthless. The bailout worked, and it is going to end up cheap.

[maxhardon]

02:18 AM on 04/03/2010

Bankruptcy is the proper vehicle for resoving failed businesses in a free capitalisitc market. Too bad we don't have this in the US.

[curiousasheck]

11:15 PM on 04/02/2010

When do my checks start arriving?

[sonofsamphm1c]

10:38 AM on 04/03/2010

Since none of the cash actually came from the taxpayer, and much of it was repaid before you filed a return where your taxes were increased to cover the cash cost - none of your money was directly involved.

[MidRoaderTurnedLeft]

10:59 PM on 04/02/2010

... and we'll complete the repayment in 2185. Or thereabouts."

[jcd8822]

10:44 PM on 04/02/2010

Yea, Yea, we know, the check is in the mail.

[Kevin Atlanta]

09:37 PM on 04/02/2010

One more Bernanke / Geithner Scam.
Where's the American Taxpayer's profit from keeping these zombie companies alive?
Where's the criminal charges for Goldman Sachs insuring the house and then being the arsonist?
Where is the justice?
America's integrity, honesty and courage is gone; consumed by George W Bush and continued with Obama's Bushisms.

[sonofsamphm1c]

10:03 PM on 04/02/2010

What on earth are you talking about?

GS committed no crimes. AIG, if it pays back all of the loans, which was once in great doubt, will do so plus interest and gains for the taxpayer.

[xmw]

09:18 PM on 04/02/2010

Great...where can I pick up mine!

[loki]

09:18 PM on 04/02/2010

Im sure. Like BoFA claimed to have done. Even taking newspaper ads out trying to con people into thinking they actually paid back all the money they were handed in the bailout, while still really owning 10s of billions more that they got in taxpayer money through the fed reserve.