News Column

US Treasury to Sell Rest of AIG Shares

Dec. 11, 2012

The U.S. Treasury Department on Monday announced that it will sell off all its remaining shares in American International Group (AIG), a key exit step from the government's massive financial rescue move.

The Treasury Department has launched a public offering for all of its remaining 234.2 million shares of AIG common stock, the department said in a statement.

The latest sale is part of the Obama administration's ongoing efforts to wind down from the controversial Troubled Asset Relief Program (TARP).

At the height of the 2008 financial crisis, the U.S. government extended 182 billion U.S. dollars to AIG, the cash-trapped insurance titan, through the TARP, a financial bailout program created to prevent a collapse of the U.S. banking system.

(c) 2012 Xinhua News Agency - CEIS. Provided by ProQuest LLC. All rights Reserved.

Source: Copyright Xinhua News Agency - CEIS 2012

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