BUSINESS BRIEFING / INSURANCE
Times Wire Reports
Despite some progress, congressional investigators cast doubt on whether efforts by American International Group Inc. to restructure its operations and pay back the government will ever prove successful.
Still, the company’s shares jumped $8.49, or 21%, to $48.40 after the head of the House Committee on Oversight and Government Reform said that panel would examine a plan to reduce the AIG bailout package.
The Federal Reserve and Treasury Department have provided $182.3 billion to AIG.
