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Politics : President Barack Obama
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To: Sr K who wrote (149202)2/13/2016 5:32:40 PM
From: sylvester80   of 149317
 
Bailing out AIG was the start of a domino effect that cost the US taxpayer almost $13 trillion... Obama took an economy that was losing 1 million jobs a month and was imploding it and reverse it... All Republicans know is greed greed and more greed and being big oil wall street and corporate whores... Obama saved the U.S. economy...

Still, the New York Times editorial board and critics of the bailout point out that amount doesn’t take into account tax breaks the company got as part of the deal. Former members of an oversight panel said in March that a special tax exemption offered by the Treasury in 2008 amounted to a "stealth bailout."

It allowed AIG to count net operating losses against future tax bills, which "some estimate has contributed to $17.7 billion in profits for the company," according to the group of former oversight panelists, including chair Elizabeth Warren, now a Democratic senator from Massachusetts.

So, have the government’s loans been repaid, with a "positive return" of $22 billion for taxpayers? Yes. Was the entire U.S. bailout of AIG, including special tax provisions, that profitable? No.

http://www.politifact.com/truth-o-meter/statements/2013/jan/02/american-international-group/aig-says-it-has-repaid-government-plus-profit/

Financial crisis, recession cost U.S. $12.8 trillion, report says
articles.latimes.com
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