AIG, American International Group INC. was one of the many companies that received federal aid very early on. They were fearful that their collapse would cause widespread damage to many banks and consumers world wide. The Associated Press reported that AIG has used over $90 billion dollars of the government’s money or rather taxpayer’s money to pay foreign and domestic banks. Some of the banks they paid also received their own bailout money from the government. The money was to be utilized to get credit flowing to households and businesses. We now find that the money is still being used to pay out bonuses. When will all of this end?
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