AIG Pays It Backward. Sort Of.

Wednesday’s New York Times and Wall Street Journal featured this full-page ad from AIG:

Picture 1

 

AIG also ran this “Thank You, America” TV spot on New Year’s Day:

 

So that’s all good, yes?

Well, maybe not.

According to Politifact.com, AIG’s claims are “Mostly True.”

AIG says it honored its commitment to repay the government, plus a profit of more than $22 billion.

It’s true that the government has recouped the $182 billion it loaned AIG, plus $22.7 billion. Still, critics have a point that a special tax provision granted to aid the struggling company substantially offsets that “profit.” We rate the company’s claim Mostly True.

Which, when you think about it, is the best you can expect these days.

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One Response to AIG Pays It Backward. Sort Of.

  1. Michael Pahre says:

    Considering that everyone thought, even as of a year ago, that the government’s investment in AIG would turn a loss, any reading of the truth indicates that the program was successful. Even if nobody thought it the right thing to do.

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