CNN

  • 2008 0917 – CNN – AIG bailout upsets Republican lawmakers – [link]
  • 2009 0324 – CNN – AIG changes story on state payments.  The insurer now says $9.5 billion of bailout funds went to municipalities — down from an estimate of $12.1 billion a week ago. – [link] 
    • AIG now says that municipalities holding guaranteed investment contracts received $9.5 billion in payments from the company last fall.
      • That’s $2.6 billion less than the estimate AIG provided March 15.
    • A spokeswoman said the company published the earlier, higher number mistakenly, due to an “administrative error.”
    • The GIA figure wasn’t the only number that changed in the revised AIG accounting. The share of federal funds attributed to paying off maturing debt and “other” uses rose to $15.2 billion, from $12.5 billion in the earlier estimate.
    • A spokeswoman said the company made the change last week after it learned an administrative error had been made in calculating the sums that had been paid to the states.
      • “The basic answer is that the money got put in the wrong bucket,” she said.