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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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