By the time you read this, American International Group might have already reported a huge loss for its fourth quarter and a new deal to secure additional financial support from Uncle Sam.
However, for the record, at least one industry group--the Property Casualty Insurers Association of America--filed a complaint against any further federal support, urging Washington to rethink plans to give more bailout money to AIG, arguing that doing so would create an unfair competitive advantage for the carrier.
"Providing additional subsidized taxpayer loans to insurers who are also thrift holding companies could create unintended negative effects on consumers and the marketplace," said David Sampson, president and chief executive officer of PCI.
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