By  Updated on Mon Sep 10, 2012

Treasury Plans Sale of Stake in AIG

The Treasury Department announced plans to sell $18 billion of American International Group (AIG) stock, cutting the government’s stake in the company by more than half since the financial crisis in 2008. AIG said it would repurchase $5 billion of the shares.

The Treasury was last known to have $24 billion of AIG-related investments, reported the Wall Street Journal.

From the $245 billion used to bail out more than 700 banks, the Treasury has recouped $264.67 billion due to interest, fees and investment gains.

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