The U.S. government is likely to suffer a loss on its investment in American International Group, Treasury Secretary Timothy Geithner acknowledged last week, contradicting an earlier, more optimistic appraisal by Federal Reserve Board Chair Ben Bernanke.
In testimony before the Congressional Oversight Panel, Mr. Geithner said while AIG is making progress in restructuring its operations, "the U.S. investments in AIG will likely still result in some loss."
Mr. Geithner's testimony is consistent with comments made at a June 10 hearing by panel staffers, as well as by analysts from Standard & Poor's and Keefe, Bruyette and Woods in New York.
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