The federal bailout program will end up costing taxpayers at least 85% less than expected, according to the Treasury Department, which estimates a bill of $30 billion to $50 billion. The Congressional Budget Office initially ex…
American International Group has received a $1 billion commitment from Kuwait Investment Authority for AIA Group’s Hong Kong initial public offering. But the Kuwaiti sovereign wealth fund has forced AIG to lower the value of th…
The U.S. Department of the Treasury announced Thursday that it has sold all of the trust preferred Citigroup shares it held for a net profit to the taxpayer of $2.246 billion. In addition, Treasury also announced it sold 1.5 bi…
After months of planning, AIG announced Thursday that it had entered into an agreement with the Treasury Department and the Federal Reserve Bank of New York about how it will repay in full its obligations to the U.S. governmen…
As expected, American International Group (AIG) said Thursday it will sell AIG Star Life Insurance and AIG Edison Life Insurance in Japan to Prudential Financial (PRU) for $4.8 billion. The deal marks yet another step in the bailed-out insurer’s effort…