White House: AIG Help Critical, More Aid Possible

WASHINGTON (AP) - The White House says the administration's
latest aid to American International Group is critical as the
insurer restructures. And, a spokesman isn't ruling out future help
for the insurance giant.

Spokesman Robert Gibbs says the Treasury Department determined
that doing nothing was unacceptable. He said the potential failure
of AIG was too big a risk to take, given the fragile economy.

The government is giving insurance giant AIG another $30 billion
from the bailout program Congress has approved. It's already pumped
$150 billion into the company.

Asked by reporters whether this is the last aid for the company,
Gibbs said the administration hopes so. But he also said Treasury
Department is evaluating the health of banks, and he reiterated
President Barack Obama's position that he will take steps to ensure
there's not an economic catastrophe.

(Copyright 2009 by The Associated Press. All Rights Reserved.)


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Brian Location: Hindman on Mar 2, 2009 at 03:55 PM
    I think this is a shame that our children and grandchildren have to bear the brunt of this fiasco. They will be paying for this until they are 80 years old.
  • by Silly on Mar 2, 2009 at 03:54 PM
    Oh Please! here we go throwing money into a insurance company knowing people are destroying vehicles everyday because of the high car payments and home being destroyed because of mortage payments. Lets just throw the money out the window.
  • by Sam Location: Lex on Mar 2, 2009 at 03:39 PM
    Bush and company sure let this country in a mess when they departed for Texas.

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