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Monday, June 18, 2012

AIG, Bear Stearns Pay Off Government Loans with Interest

Remember AIG, the insurance company which became the credit crisis' poster child for "Too Big to Fail?" Well, apparently they have paid off all their government loans, with interest.

Bear Stearns, another big casualty of the credit meltdown of 2008, also repaid all its loans.

This is good news for taxpayers, though I don't know all the details.

"The repayment of loans by AIG represents a turnaround for an insurance company that many had given up for dead during and even after the financial crisis. The insurance company has slimmed down its operations, closed down many of its loss-making divisions and has been profitable for two years."

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