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18 May 2012

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7 May 2010

AIG 'no value' fears
The bailout of American International Group (AIG) will cost the US taxpayers some $50bn, but the salvaged insurer is now stable, according to separate government reports.

The Government Accountability Office (GAO), however, warned that AIG's ability to pay back the government depends on the restructure and the wider economic environment, rather than any value left in the company.

Earlier, US hedge fund manager Steve Eisman said there was no value left for shareholders in AIG, including...

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