US Hawks Last AIG Shares, Pushes Profit to $22.7B
Treasury to bring in $7.6B in sale today
By Matt Cantor, Newser User
Posted Dec 11, 2012 7:55 AM CST
The AIG logo is seen on the side of building.   (AP Photo/Shizuo Kambayashi, File)

(Newser) – The US is getting ready to sell off Uncle Sam's remaining shares in AIG—and when it's all over, the government's bailout of the company will have resulted in a $22.7 billion return, the Treasury Department says. It's selling some 234 million common shares today at $32.50 apiece, a public offering that will bring in $7.6 billion, it says. After the sale, Treasury will retain warrants to buy approximately 2.7 million common shares in the firm. Such a return seemed almost unthinkable when the government launched the controversial bailout in 2008, the Wall Street Journal notes. After a $68 billion investment, the government had owned 92% of the company before it started selling off shares last year.

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Comments
Showing 3 of 8 comments
Barbs1133
Dec 11, 2012 7:14 PM CST
Now they need to figure out how to make some more money! Tax the rich, close the loopholes, cap the deductions and institute a FINANCIAL TRANSACTION TAX--NOW.
IndependentThinker
Dec 11, 2012 11:16 AM CST
Goberment cant do anyting write....
professortech
Dec 11, 2012 8:11 AM CST
So the interventionist/ stimulus policies have in the end returned a $22.7 billion profit? Wow! I wonder if that makes any of the "let Em Fail" conservatives out there do any re-thinking? Hmmmmm?