Benzinga's Political Roundup (AIG, GM)

U.S. taxpayers are not likely to recover all of the money put into the General Motors GM bailout, according to a panel. The Federal Reserve released its Beige Book yesterday, and the book showed modest expansion in most of the country. Banks are meeting today in Washington to discuss AIG's AIG "re-IPO", as the government looks to sell its stake in the embattled insurer. The Bank of Korea surprised the markets with an interest rate hike yesterday, raising the rate to 2.75%, up 25 basis points.