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
- Why you should stop believing in evolution
- How Israel's hawks intimidated and silenced the last remnants of the anti-war left
- 10 things you need to know today: August 21, 2014
- The secret to handling pressure like astronauts, Navy SEALs, and samurai
- Why your employer should clean your house and do your laundry
- It's time for the police to rethink 'shoot-to-kill'
- 7 grammar rules you really should pay attention to
- What you need to know before you support the police in Ferguson
- The big policy question libertarians can't answer
- The fascinating political evolution of Paul Ryan
Subscribe to the Week