AIG Thinks It's Ready to Remove Taxpayer-Funded Training Wheels

As AIG, the insurance firm that's most in hock to the U.S. government, reported second-quarter earnings this morning, the company began making noises about ending its investor relationship with the U.S. government.

The company, which is about 80% owned by you, me, and other taxpayers, reported an adjusted profit that was better than Wall Street expected. (Including restructuring charges, though, it lost $2.7 billion.) And on the heels of those results, CEO Robert H. Benmosche said in a statement: "AIG’s continuing insurance operating results remain solid, while the company continues to execute on its restructuring plans and prepares for separation from the U.S. government."

The financial crisis -- specifically AIG's sale of credit-default swaps, a form of protection against defaults on loans -- has spurred AIG to accept a bailout of $182.3 billion. The company has been offloading its truckload of assets, like its aircraft-leasing business, in an effort to raise enough money to pay back the money it owes the government.