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The silver lining from AIG's (AIG +0.5%) heavy losses: The insurer says it won't be paying much...

The silver lining from AIG's (AIG +0.5%) heavy losses: The insurer says it won't be paying much in federal taxes, which means funds for capital management, especially buybacks. Some of its $23B in deferred tax assets don't expire until 2030, the company notes as it preps a big offering.
Comments (2)
  • Hitesh Patel
    , contributor
    Comments (314) | Send Message
     
    So let me try to understand this. AIG takes on too much risk and nearly goes bankrupt. The Government(taxpayer's - you and me) bail them out. The shareholders were screwed in the process. They are re-structured now and are looking to raise new money from suckers (investors) and their selling point is we have 23 billion in loss carryforward so we won't pay our fair share of taxes going forward for a while, essentially screwing the same taxpayers that bailed them out in the first place......AAAHHH Capitalism...I wish I had friends in high places.
    6 May 2011, 03:09 PM Reply Like
  • haschrad
    , contributor
    Comments (49) | Send Message
     
    Only the government could create a tax system so screwy that GE, with its billions in profits, and AIG, with billions in losses, pay roughly the same amount of tax.
    6 May 2011, 03:32 PM Reply Like
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