aig

The giant insurance company announced Monday morning it has raised nearly $37 billion to start paying back the government bailout it received two years ago.

AIG received $100 billion worth of taxpayer funds during the financial crisis. The company says it raised the new funds by selling overseas businesses.

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The much-maligned financial products brought down AIG and fueled the mortgage market meltdown. But some say they're not all evil -- they reduce costs and provide protection for customers.

And as long as trades are done in the open, they say, banks shouldn't be prohibited from the business.

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When AIG stunned the global economy by nearly collapsing last year, the insurance giant was being regulated by dozens of agencies in the U.S.

Lawmakers eyeing an overhaul of the financial system say that's far too many, but politics makes reducing the number almost impossible.

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The company that literally almost brought it all tumbling down about a year ago right around this time is back in the black?

Not so much.

Hoping to avoid a backlash over bonuses, American International Group is asking the federal government to weigh in on the insurer's plan to resume paying retention bonuses.

Published reports say AIG has asked compensation czar Kenneth Feinberg to approve the payments.

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