Skip to comments.Treasury to sell its remaining stake in AIG
Posted on 12/10/2012 9:36:34 PM PST by NachumEdited on 12/11/2012 3:12:33 AM PST by Admin Moderator. [history]
WASHINGTON -- The Treasury Department said Monday that it would sell its remaining ownership stake in insurance giant American International Group, effectively ending one of the largest bailouts of the financial crisis and turning a profit for taxpayers.
The sale of the Treasury's remaining 234 million shares -- 15.9% of the company -- would add to the $15.1 billion in profit the government already has made on the bailout. The Treasury would still hold warrants in AIG after the stock sale.
(Excerpt) Read more at latimes.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
Sure they sold it.
Until the next time AIG needs bailing out.
And I’m sure they made a profit, too. Couldn’t be that the true cost of these bailouts (including GM...hey, we made money on that too!)...has been hidden from the taxpayers.
to whom?? the Chinese??
I’m sure they will use that “profit” to pay down the debt.
That would be fantastic! I hope the Chinese leave the same executive/risk management team in place.
Sorry bud, 140% of the profit has been spent.
Once again, William Dudley is lying through his teeth. The only entity that made a profit off of this was Goldman Sachs - Dudley's former employer.
Subsidize? They bought stock, they sold stock, they made a profit. What subsidy?
The only entity that made a profit off of this was Goldman Sachs - Dudley's former employer.
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