U.S. sale of AIG stock brings $5 billion

Filed under: AM Roundup |

The United States treasury is expected to continue to unwind itself from an unprecedented 2008 bailout of AIG Corp. by selling abut $5 billion more in AIG stock and reducing its ownership to 63 percent, reports the Los Angeles Times.

AIG’s stock price is up 41.5 percent this year, and the government has priced AIG stock at $30.50 each.

The sale brings American taxpayers’ obligations to $39 billion from $182 billion in 2008.

Read more at the Los Angeles Times.