Also this article totally skips over what a previous article stated that the IRS gave AIG billions of dollars in tax breaks last year. So I don’t see where the US taxpayer will see a profit. We gave AIG the money from tax savings to pay us a profit; how does that work? I have an idea. I’ll give the US government thousands of dollars a year if the IRS waives my tax liability every year. Then run an article on me for being the model US citizen that GIVES money to the US government.
Benmosche did a great job. It was all but obvious to pay back without killing the group’s core businesses, he managed it against all odds. And the remaining activities are strong enough to create substantial value (Chartis, ILFC, remaining US life business …). This is stronger than FM + FM with their single line activity. Concerning IRS, the “savings” are nothing else than overopaid taxes prior to 2008. Would be interesting to calculate AIG’ long term effective tax rate, I’m sure it’s significantly higher than Goldman, BofA, JPM Chase or Citi !
Only $78 Billion to go. Most adults will not see this paid back before they die.
Also this article totally skips over what a previous article stated that the IRS gave AIG billions of dollars in tax breaks last year. So I don’t see where the US taxpayer will see a profit. We gave AIG the money from tax savings to pay us a profit; how does that work? I have an idea. I’ll give the US government thousands of dollars a year if the IRS waives my tax liability every year. Then run an article on me for being the model US citizen that GIVES money to the US government.
Benmosche did a great job. It was all but obvious to pay back without killing the group’s core businesses, he managed it against all odds. And the remaining activities are strong enough to create substantial value (Chartis, ILFC, remaining US life business …). This is stronger than FM + FM with their single line activity. Concerning IRS, the “savings” are nothing else than overopaid taxes prior to 2008. Would be interesting to calculate AIG’ long term effective tax rate, I’m sure it’s significantly higher than Goldman, BofA, JPM Chase or Citi !