Results 1 to 5 of 5

Thread: US Treasuary sold AIG stock for $22 billion more than they paid during bailout

  1. #1
    Sage
    minnie616's Avatar
    Join Date
    Feb 2012
    Last Seen
    Today @ 10:19 AM
    Gender
    Lean
    Independent
    Posts
    14,948

    US Treasuary sold AIG stock for $22 billion more than they paid during bailout

    Treasury Has Sold Its Last Shares of AIG (and Turned a Profit, Too)


    Treasury Has Sold Its Last Shares of AIG (and Turned a Profit, Too)
    By The Associated Press
    Posted 10:18AM 12/11/12


    WASHINGTON -- The Treasury Department said Tuesday that it has sold all of its remaining shares of American International Group (AIG), moving to wrap up the government's biggest bailout of the 2008 financial crisis.

    Treasury said it received $32.50 per share for its 234.2 million remaining shares, which represented a 16 percent ownership stake in the giant insurance company.

    With this sale, Treasury said the government has received $22.7 billion more than the $182 billion bailout it provided to support AIG during the height of the financial crisis
    Read more:

    Treasury Has Sold Its Last Shares of AIG (and Turned a Profit, Too) - DailyFinance
    When it comes to matters of reproduce health, Politicians and the religious dogma of another faith should never interfere with religious liberty of an individual or her faith.

  2. #2
    Banned
    Join Date
    Nov 2012
    Location
    Denio Junction
    Last Seen
    11-13-14 @ 12:09 AM
    Lean
    Other
    Posts
    7,039
    Blog Entries
    4

    Re: US Treasuary sold AIG stock for $22 billion more than they paid during bailout

    You forgot to thank Bush

  3. #3
    Sometimes wrong

    ttwtt78640's Avatar
    Join Date
    May 2012
    Location
    Uhland, Texas
    Last Seen
    Today @ 10:07 AM
    Gender
    Lean
    Libertarian
    Posts
    34,583

    Re: US Treasuary sold AIG stock for $22 billion more than they paid during bailout

    Obama has, no doubt, already spent at least that (this week), but not likely on a similarly "wise" investment.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  4. #4
    Sage
    minnie616's Avatar
    Join Date
    Feb 2012
    Last Seen
    Today @ 10:19 AM
    Gender
    Lean
    Independent
    Posts
    14,948

    Re: US Treasuary sold AIG stock for $22 billion more than they paid during bailout

    Quote Originally Posted by CalGun View Post
    You forgot to thank Bush
    I thank both President Bush and President Obama.

    The NY Fed, in tandem with the Federal Reserve Board and the Treasury department of the Bush and later the Obama administration, ultimately invested more than $100 billion in additional funds, as well as the creation of facilities, and the federal government’s credit as implied backing of AIG.
    read more:

    Treasury selling remainder of AIG stock | LifeHealthPro
    When it comes to matters of reproduce health, Politicians and the religious dogma of another faith should never interfere with religious liberty of an individual or her faith.

  5. #5
    Count Smackula
    rathi's Avatar
    Join Date
    Oct 2006
    Location
    California
    Last Seen
    10-31-15 @ 10:29 PM
    Gender
    Lean
    Independent
    Posts
    7,890

    Re: US Treasuary sold AIG stock for $22 billion more than they paid during bailout

    A more honest calculation would include whatever the cost of borrowing the money the government used to bail-out AIG and for inflation. While I am happy that it wasn't a wasteful as it could be, this doesn't change that both administrations handled the situation poorly during the financial crisis.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •