Treasury Sells AIG Shares

AIG, the insurer that nearly went belly up in 2008 and required a massive bailout, has recovered nicely. Sunday, the Treasury Department, which has whittled its ownership stake down to 53 percent, announced it would sell a massive slug of AIG stock: $18 billion. AIG is buying back $5 billion in shares, and the rest will be sold back to the public. The move will cut taxpayers’ stake in AIG to less than 20 percent.