U.S. Treasury

12:38pm

Mon September 10, 2012
The Two-Way

AIG Stocks Drop, After U.S. Announces Sell-Off Plans

Over the weekend, the United States Treasury said it has plans to sell $18 billion worth of American International Group stocks. During the financial crisis in 2008, the government pumped $182 billion into AIG stock to keep it from collapsing.

Reuters reports, this morning, that AIG shares fell 1.5 percent because of the news. Reuters adds:

"AIG itself will buy back $5 billion of its own shares in the upcoming stock sale, with the rest of the shares going to the broader public.

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7:27am

Mon September 10, 2012
The Two-Way

Government To Sell Controlling Interest In Bailed-Out AIG

Originally published on Mon September 10, 2012 7:59 am

Remember the dark days of 2008 when insurer American International Group Inc., better known as AIG, nearly collapsed under the weight of the mortgage crisis before Washington rode to the rescue to the tune of $182 billion?

Then there was the public outrage when AIG executives got millions in bonuses after receiving the largest of all of the Wall Street bailouts.

Since then, the New York-based insurance giant has been essentially a government-owned enterprise, with Uncle Sam holding a controlling share.

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3:17am

Mon September 10, 2012
Business

U.S. To Sell $18 Billion In Shares Of AIG

Transcript

(SOUNDBITE OF MUSIC)

STEVE INSKEEP, HOST:

NPR's business news starts with the USG selling some AIG.

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10:47am

Wed August 1, 2012
The Two-Way

USPS Defaults On $5.5 Billion Payment To Treasury

An employee loads flat trays onto a truck at the U.S. Postal Service processing and distribution center in Merrifield, Va.
Andrew Harrier Bloomberg via Getty Images

For the first time ever, the United States Postal Service has defaulted on a payment to the Treasury.

The USPS warned of a default in a statement on Monday. It it would not make the $5.5 billion payment due today and that it would also default on a $5.6 billion payment due Sept. 30. Both of those payments are federally mandated and go toward prefunding retiree health benefits.

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9:32am

Wed July 25, 2012

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