AIG debt

anyone know what’s going on with AIG’s senior debt, or that of its subs. am i right to assume that if you buy 3-4 year debt and the government keeps it in conservatorship then you will get paid interest and principal upon maturity. or is there some unique scenario regarding conservatorship that harms the debt? i realize the equity will likely never be worth much, but i assume the debt pays until it goes bankrupt. is there a major risk that government throws up hands and says, “no mas”… or they work it down to a manageable situation and then let it go bankrupt? FWIW, i think the 5-year AIG debt yields 20%

If you aren’t bound by risk restrictions, buying AIG debt (like almost any corporate) is probably a good idea.