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Watchdog: Gov't may have overpaid to bail out AIG
Quick ReadOfficials mismanaged AIG bailouts, may have overpaid to stabilize company, watchdog says
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WASHINGTON (AP) — Officials handling the multibillion dollar bailout of insurance giant American International Group Inc. mismanaged an initial rescue attempt and may have overpaid other banks to wind down AIG's business relationships, a government watchdog says.
The Federal Reserve Bank of New York — headed at the time by now-Treasury Secretary Timothy Geithner — paid AIG's business partners...
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