Monday, December 10, 2012

THE AIG BAILOUT WAS A SUCCESS

In strictly financial terms as opposed to moral terms, the Treasury's bailout of AIG was a smashing success:
US Treasury announces final AIG stock sale
US Treasury announces sale of remaining AIG stock held by government
By Martin Crutsinger, AP Economics Writer | Associated Press – 2 hrs 36 mins ago

WASHINGTON (AP) -- The U.S. government said Monday that it is selling its remaining shares of American International Group stock, moving to close the books on the government's biggest bailout during the 2008 financial crisis.

Treasury said it had begun a sale of 234.2 million shares of common stock in a public offering.

Treasury has already recovered more on its AIG investment that the original $182.3 billion bailout. It was the largest government bailout package, including both loans and federal guarantees.

As of September, Treasury and the Federal Reserve had received $197.4 billion.

3 comments:

Ken Hoop said...

Better confirm that with folks like Dean Baker and the Rortybomb guy. Not sure they agree.

Steve J. said...

Ken,

OK - thanx for the tip!

Steve

Ken Hoop said...

Just a guess. They've written on the subject in the past. Haven't checked them on this yet.