I thought AIG would never be able to re-pay all the TARP money it received but I was wrong:
Fed nets $17.7 bn profit from AIG bailout
AFP – 42 mins ago
The US Federal Reserve said Thursday it had sold the last of its investment in insurer AIG, turning a $17.7 billion profit for the public from its 2008 bailout.
The New York Fed's final sale of its American International Group-related assets made a net gain of about $6.6 billion, the central bank announced.
"The total net profit to taxpayers from the New York Fed's assistance to AIG and AIG-related facilities was $17.7 billion," it said in a statement.
"The completion of the sale of the Maiden Lane III portfolio marks the end of an important chapter -- our assistance to AIG -- that was undertaken to stabilize the financial system in the midst of the financial crisis," William Dudley, president of the New York Fed, said.
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