December 11, 2012 at 11:23 AM EST
Treasury Sells Final AIG Stake, Ending Its Bailout
The U.S. Treasury is selling its final position in insurer American International Group (AIG) for $7.2 billion, bringing an end to the largest of the Wall Street bailouts, and netting taxpayers a $22.7 billion profit. The government agreed to sell its last 234.2 million shares, 15.9% of the total outstanding, for $32.50 each in a public offering. At the peak, taxpayers owned 92% of the troubled lender, which imploded during the 2008 financial
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