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
- Ted Cruz is the new Sarah Palin
- How liberals are unwittingly paving the way for the legalization of adult incest
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Watch out, China — America is working on dogfighting drones
- 10 things you need to know today: October 1, 2014
- Why colleges' insistence on 'diversity' actually fails disadvantaged kids
- 43 TV shows to watch in 2014
- Why the Chinese military is only a paper dragon
- Bill O'Reilly and Stephen Colbert are accidentally having a serious debate on ISIS
- The troubling persistence of eugenicist thought in modern America
Subscribe to the Week