Dec. 11 - The U.S. Treasury sells last batch of AIG shares purchased as part of its controversial bailout, bringing the total profit to $22.7 billion. Conway G. Gittens reports.
▲ Hide Transcript
▶ View Transcript
PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL
The Daily Digit today is $22.7 billion.
That's the profit the U.S. Treasury is making for bailing out American International Group during the financial crisis four years ago.
It is selling the last batch of AIG shares for $32.50 a piece, pocketing $7.6 billion.
The share offering closes the chapter on one of the most politically contentious rescues of 2008, which ultimately gave AIG up to $182 billion of government support.
At one point, the government estimated that it would never recover all of the bailout money, but as AIG restructured and returned to viability, the insurer was able to repay the entire rescue fund plus generate a profit for U.S. taxpayers.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code