From a companion article:
The Government Accountability Office said in May that taxpayers could end up making a $15.1-billion profit from the bailout. The estimate depended on how well AIG's stock performed and when the Treasury sold its remaining shares.
The GAO's projection did not take into account the government's cost to subsidize AIG since 2008, which the agency did not calculate.
http://articles.latimes.com/2012/aug/24/business/la-fi-aig-fed-bailout-20120824
Once again, William Dudley is lying through his teeth. The only entity that made a profit off of this was Goldman Sachs - Dudley's former employer.
The GAO's projection did not take into account the government's cost to subsidize AIG since 2008, which the agency did not calculate.Subsidize? They bought stock, they sold stock, they made a profit. What subsidy?
The only entity that made a profit off of this was Goldman Sachs - Dudley's former employer.
LOL!