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.
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