NU Online News Service, March 30, 2:08 p.m.EDT
|U.S. Senate candidate Elizabeth Warren blasted AmericanInternational Group and the U.S. government for allowing theinsurer to get a tax break after receiving a government bailout,calling it “a stealth bailout.”
|In an op-ed piece appearing in “The Washington Post,” Warren, who led thecharge for the creation of the Consumer Financial Protection Bureauand is running for a U.S. Senate seat in Massachusetts, was joinedby Damon Silvers, director of policy and special counsel to theAFL-CIO, in criticizing AIG's ability to benefit from its previousyears' losses and show a profit for the fourth quarter of 2011 of close to $20billion.
|“When a company accepts a taxpayer bailout to stay in business,it ought to follow the same tax laws followed by companies thataren't bailed out,” the opinion piece says.
|Just a few weeks earlier, Warren joined three other former members of the oversight committee for theTrouble Asset Relief Program in criticism of AIG's profits.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
