NU Online News Service, May 26, 3:40 p.m. EDT
WASHINGTON–Analysts raised red flags about the future of American International Group at a congressional hearing today, despite President Robert Benmosche's assurances that AIG is on a "clear path" to repaying the government and "remaking itself into a more streamlined and focused company."
"I see substantial progress," Mr. Benmosche testified at a hearing on AIG convened by the Congressional Oversight Panel, created to act as a watchdog over government investments made through the Troubled Asset Relief Program and other Treasury Department and Federal Reserve Board programs launched to prevent a financial meltdown in September 2008.
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