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Tuesday, September 11, 2012

Government Making Money From AIG Bailout

The Treasury Department says the government is making money from its bailout of the insurance company AIG. It expects to earn a profit of more than $12 billion after selling a big portion of its company shares, and becoming a minority shareholder for the first time. The government will own about one-fifth of the company's shares. The government's bailout of AIG was the biggest rescue of a Wall Street firm, pledging $182 billion to prop up the company.

Overall, the government has recovered about 80 percent of the money it spent through the Troubled Asset Relief Program, the best-known of recession-era financial bailout programs.

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