Published on 8th May 2012
“The US government could end up pocketing $15.1bn in profit from the bailout of insurance giant American International Group Inc, according to a new estimate by the Government Accountability Office. The report came as the Treasury Department on Monday continued to wind down its stake in AIG, announcing that it has agreed to sell $5.8bn worth of shares to reduce the government's ownership stake to 61%, from 70%. The sale, which would produce about $750m more than originally estimated, would reduce the Treasury Department’s investment in AIG to about $31bn, with the Federal Reserve holding another $9bn,” writes the Los Angeles Times.