AIG bailout criticised


An official US government report has criticised the government's 2008 bailout of AIG.
The report, from the Office for the Special Inspector General for the Trouble Asset Relief Program (SIGTARP), titled Factors affecting efforts to limit payments to AIG counterparties, concludes that the original terms of federal assistance to AIG, including the high interest rate it adopted from the private bank's initial term sheet, 'inadequately addressed AIG's long term liquidity concerns, thus requiring further Government support'.
To read this story in full, look out for ITIJ 108 - on desks in the first week of January.