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Bailout watchdogs condemn AIG tax break

Former members of a congressional panel that oversaw bailouts during the financial crisis are condemning a tax break for insurance giant American International Group. They say it amounts to an extra bailout worth billions of dollars. Former oversight panel chair Elizabeth Warren and others from both parties say the tax break is a massive taxpayer… Continue Reading Bailout watchdogs condemn AIG tax break

AIG set to repay $37 billion in bailout money

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AIG said Monday it raised nearly $37 billion from the sale of two foreign insurance units and will use that money to repay a government bailout. The insurance giant closed its previously announced sale of American Life Insurance Co. on Monday. It sold ALICO to MetLife Inc. for $16.2 billion. The sale includes $7.2 billion… Continue Reading AIG set to repay $37 billion in bailout money

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They’re our predators

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As giant banks such as Goldman Sachs, Wells Fargo, and Bank of America prepare to pay substantial year-end bonuses to their employees, we can expect a firestorm of angry complaints from the public, accompanied by calls for tighter regulation and/or punitive taxation. It’s easy to argue that the big banks are predators, not producers. Far… Continue Reading They’re our predators

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WASHINGTON (AP) — The Treasury Department has approved 10 of the nation’s largest banks to repay $68 billion in government bailout money. The department on Tuesday said the banks, which were not named, will be allowed to repay the money they received from the $700 billion Troubled Asset Relief Program created by Congress last October… Continue Reading 10 big banks get OK to repay $68B in bailout money

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