AIG Pays Back $2 Billion More, No Good Deed Goes Unpunished (AIG)

The funds came from the sale of Nan Shan Life Insurance.  The problem is that AIG still only has a small portion of its shares sold by Uncle Sam and the stock has fallen since the offering along with the broad market and with the battered financial sector.  If the math is correct, the debt tab is down to about $51 billion outside of another $18 billion or so owed to the Federal Reserve Bank of New York.

AIG closed at $22.70 on Thursday, after having been above $25 as recently as Wednesday. AIG shares were even above $29.00 at the end of July before S&P cut the U.S. sovereign debt rating.

Shares are down another 1.3% at $22.40 this morning and the 52-week range is $21.72 to $62.87.

No good deed goes unpunished.

JON C. OGG