Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Treasury Thinks Bailout Loss Will Be Smaller, AIG Whines About Pay
By
Jen Chung
Published Dec 7, 2009
Modified Dec 7, 2009
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Dec 7, 2009
Modified Dec 7, 2009
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
A Treasury report suggests that the government will, as the NY Times reports, "recover all but $42 billion of the $370 billion it has lent to ailing companies since the financial crisis began last year, with the portion lent to banks actually showing a slight profit." The Obama administration had estimated TARP-related losses of $341 billion.
The Times offers up more sort-of-good news/bad news: While "officials said the government could ultimately lose $100 billion more from the bailout program in new loans to banks, aid to troubled homeowners and credit to small businesses," it helps trim deficit forecasts from $1.5 trillion to $1.3 billion. Oh, and "The Federal Reserve...still holds a trillion-dollar portfolio of mortgage-backed securities whose market value is unknown," so who knows it that'll be good or bad for the country.
In other bailout-related news, the Wall Street Journal reports, "Five high-ranking executives at American International Group Inc. said last week they were prepared to quit if their compensation is cut significantly by the insurer's government overseers." (AIG's pay is being monitored by the government, since the firm received a bundle of bailout money.) While two of the executives changed their minds over the weekend, the WSJ adds, "AIG's recently hired chief executive, Robert Benmosche, threatened to quit last month amid frustrations over limitations on pay for top AIG executives. He argued that if the government wants AIG to prosper and pay back its debts, it needs to hire and keep top talent. He subsequently agreed to stay."
Tagged
AIG
bailout
deficit
tarp
treasury department
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
DSA to Mamdani: Fire NYPD commissioner if ICE doesn't leave NYC
The DSA's NYC chapter accused the NYPD of collaborating with ICE and demanded Mayor Mamdani hold Police Commissioner Jessica Tisch responsible.
By
Elizabeth Kim
,
Brigid Bergin
and
Ben Feuerherd
Published Oct 9, 2026 at 6:31 p.m. ET
Two people killed in Bronx vehicle crash
When officers arrived on the scene in Allerton Friday afternoon, they found three pedestrians who were unconscious with trauma to the head and body, according to the NYPD. Two individuals later died.
By
Kaya Laterman
News
Two people killed in Bronx vehicle crash
When officers arrived on the scene in Allerton Friday afternoon, they found three pedestrians who were unconscious with trauma to the head and body, according to the NYPD. Two individuals later died.
By
Kaya Laterman
NY will opt in Trump’s school choice program, Hochul says
By
Jon Campbell
Residents, lawmakers warned for months of potential for deadly ICE activity in Marble Hill
By
David Brand
Manhattan DA argues judge shouldn't dismiss state charges against Luigi Mangione
By
Samantha Max
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .