Reuters: Bankruptcy News: White House declines comment on possible AIG suit

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White House declines comment on possible AIG suit Jan 8th 2013, 18:30 WASHINGTON | Tue Jan 8, 2013 1:30pm EST WASHINGTON Jan 8 (Reuters) - The White House declined to comment on Tuesday on a possible lawsuit by insurer American International Group against the U.S. government that alleges the terms of the firm's 2008 bailout were unfair, but defended the rescue. "I won't comment on a lawsuit that's pending," White House spokesman Jay Carney told reporters at a briefing. "The U.S. government acted in a bipartisan fashion to prevent the disorderly failure of AIG after concluding that such a failure would have caused catastrophic damage to the economy and financial system," he added. The company has repaid the government for its emergency funding and the government reaped a profit from the rescue, Carney noted. The bailout is a reminder of the need to continue putting financial reforms into place, he said.

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