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The U.S. Treasury is selling its remaining stake in insurer American International Group Inc , bringing an end to government ownership of the company about four years after a $182 billion bailout.
The sale will close the chapter on one of the most politically contentious government rescues of the global financial crisis and turn a profit for taxpayers, which was once thought to be inconceivable.
At one point, the government estimated that it would never recover all of the bailout money, but as AIG restructured and returned to viability, it was able to repay the entire rescue fund plus generate a profit for U.S. taxpayers.
http://www.chicagotribune.com/business/sns-rt-us-usa-treasury-aigbre8b9190-20121210,0,578270.story
The sale will close the chapter on one of the most politically contentious government rescues of the global financial crisis and turn a profit for taxpayers, which was once thought to be inconceivable.
At one point, the government estimated that it would never recover all of the bailout money, but as AIG restructured and returned to viability, it was able to repay the entire rescue fund plus generate a profit for U.S. taxpayers.
http://www.chicagotribune.com/business/sns-rt-us-usa-treasury-aigbre8b9190-20121210,0,578270.story