NU Online News Service, March 18, 3:45 p.m. EDT
The Congressional Budget Office, in a report on the Troubled Asset Relief Program, said American International Group has failed to pay quarterly cash dividends due on $40 billion in preferred company stock that the Treasury purchased to bail out the company.
The Treasury provided TARP assistance to AIG in two forms–purchasing $40 billion in preferred stock, and creating a $30 billion preferred line of credit for the company.
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