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Patriots Live

7

13

3rd Qtr 6:39

US Treasury announces final AIG stock sale

WASHINGTON — The US 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.

The Treasury Department said it had begun a sale of 234.2 million shares of common stock in a public offering. The government’s shares represent a 16 percent ownership stake in the insurance company.

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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.

AIG became a symbol for excessive risk on Wall Street and a touchstone of public anger. Its stock closed at $33.36 on Monday, down 77 cents from Friday’s close.

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