In this Sept. 17, 2008 file photo, the AIG logo is shown in New York. THE CANADIAN PRESS/AP, Mark Lennihan
WASHINGTON - The U.S. government says it plans to sell $4.5 billion in American International Group common stock, the latest effort to recoup taxpayer money spent on the largest bailout of the 2008 financial crisis.
The Treasury Department announced the fourth round of AIG stock sales Friday. The insurance company has indicated it intends to purchase up to $3 billion of the stock being offered in this sale.
Treasury and the Federal Reserve stepped in with $182 billion to rescue New York-based AIG from collapse in September 2008. Treasury still owns about 61 per cent of AIG's common stock.