Federal Reserve Sells Off Final Shares Of AIG

The Federal Reserve sold off its last remaining shares of troubled insurance giant AIG on Thursday. In 2008 - as AIG threatened to bring down the entire economy – the Fed bailed it out with $182 billion buying a 92% ownership stake in the company to keep it afloat as part of the TARP program. Today, Fed officials are calling the move a huge success – saying taxpayers earned nearly $18 billion from the rescue. But is saving an irresponsible bank a benchmark for success? In rescuing AIG, banksters and shareholders were saved – yet millions of Americans lost their homes – and millions more are still in danger of losing their homes. As Neil Barofsy – the former Special Inspector General of the TARP program said – the American economy is “f’ed!”