For the first time since the Treasury took control of AIG four years ago, the U.S. will be a minority shareholder after selling off at least $18 billion of the bailed-out insurer's stock, The New York Times reports.
Currently holding 53 percent of the company, a new deal could lower the U.S. stake to 15 percent. Although the Treasury is expected to earn a profit, it is trying to distance itself from a widely unpopular bailout, according to The Times.
As the stock markets tumbled in the fall of 2008, AIG was rescued by the Bush administration when it injected $182 billion into the company, owning 92 percent at the time. Since then, the U.S. has slowly sold its holdings.
We want to hear what you think about this article. Submit a letter to the editor or write to firstname.lastname@example.org.