| 12-10-2012, 04:00 PM
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Veteran Member Join Date: Sep 2006 Location: Wisconsin USA | AIG’s rescue is coming to an end
AIG Bailout That Angered Bernanke to End With Treasury Sale - Businessweek  Quote: The U.S. owned as much as 92 percent of AIG after saving a firm that insured 100,000 municipalities, retirement plans and companies and was a counterparty to some of biggest banks. Federal Reserve Chairman Ben S. Bernanke has said saving AIG after it was hobbled by mortgage-related bets made him “more angry” than any other measure the government undertook to counter the deepest financial crisis since the Great Depression.
“There weren’t a lot of options, let’s face it,” Robert Willumstad, chief executive officer of AIG when the firm was rescued, said in an interview in November. “It was controversial, it was a big risk, but one would argue today that the government got its money back and a healthy profit.”
The offering would raise about $7.8 billion at today’s closing price of $33.36 a share. The stock has gained about 44 percent this year. The U.S. profit on the bailout package was $15.1 billion as of mid-September. |
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