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White House: AIG sale shows "commitment to recover taxpayer money"

Monday, September 10, 2012 - 01:41

Sept. 9 - The U.S. Treasury's announcement that it is selling $18 billion of shares in American International Group demonstrates a commitment to recover taxpayer money, White House Press Secretary Jay Carney says during a press briefing. Rough Cut (no reporter narration).

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The Treasury Department and Federal Reserve extended a combined $182 billion lifeline to AIG at the peak of the financial crisis, after the insurer became entangled in subprime-mortgage derivatives. The sale of AIG stock brings the government's stake in the insurer to 20 percent, down from 53 percent. AIG still owes U.S. taxpayers $23.3 billion, according to a tally by ProPublica.

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White House: AIG sale shows "commitment to recover taxpayer money"

Monday, September 10, 2012 - 01:41