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Robert Benmosche Expects Government To Be Out Of AIG's Hair Soon, Taxpayers To Get Their Money At Some Point

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It pales in comparison to the insurer's biggest news of the summer but exciting nonetheless.

“We have commenced discussions with the U.S. government on the process and terms of a complete government exit,” Benmosche told employees today in a memo. “Depending of course on market conditions, which could remain volatile, we expect to make meaningful progress in 2010 on repaying the Federal Reserve Bank of New York, and over time fully repaying all of our obligations to taxpayers.”

AIG in Talks for `Complete Government Exit,' CEO Says [Bloomberg]


Pour One Out For Robert Benmosche Tonight

The former AIG chief/winemaker is no longer with us.