Despite some progress, congressional investigators say it’s still too soon to judge whether efforts by American International Group Inc. to restructure its operations and pay back the government will prove successful.

The government has provided $182.3 billion to the insurance giant. The Government Accountability Office says that as of early September, AIG’s outstanding balance of aid was $120.7 billion.

The GAO found “some progress in AIG’s ability to repay the federal assistance.” But improvement in the company’s stability depends on its long-term health, market conditions and continued government support.

The report concludes that “the ultimate success of AIG’s restructuring and repayment efforts remains uncertain.” Hard money training

Tags: accountability, company, government, repayment

This entry was posted on Tuesday, September 22nd, 2009 at 9:51 am and is filed under Global Financial, Global Recession, US Deficit, US Finance, US Inflation, World Financial. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.