The U.S. Treasury on Monday announced that it would sell an $18 billion stake in AIG, the investment giant that was rescued by the government during the financial crisis of 2008. The sale would reduce the government's stake in AIG to less than 20 percent, from its current majority stake of 53 percent. The move is the latest step toward disentangling AIG from the government, which once committed more than $180 billion to the company to keep it afloat. The government still owns a large portion of automaker General Motors, and controls the mortgage-financing companies Fannie Mae and Freddie Mac.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- China's leader is telling the People's Liberation Army to prepare for war
- How I lost all my money
- Why Pakistan won't hunt down the terrorists within its borders
- The best books we read in 2014
- The religious right isn't retreating — it's reforming
- How to save money: 12 great personal finance tips
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- How to wrap a present with mathematical precision (and waste less paper)
- Diagnosing the Home Alone burglars' injuries: A professional weighs in
- How academia's liberal bias is killing social science
Subscribe to the Week