Banks are repaying bailout cash but AIG won’t
US Treasury Secretary Timothy Geithner says taxpayer losses from the $700bn financial bailout will be below the projected $105bn but "TARP investments in AIG will likely still result in some loss," Reuters reports.
Geithner told the Congressional Oversight Panel that estimates of losses from the Troubled Asset Relief Program (TARP) had fallen from $341bn in August to just $105bn now.
"We view that as a conservative estimate," Geithner told the TARP watchdog panel. "We expect it to fall further."
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