Wednesday, December 8, 2010

AIG's Partially Back

AIG has repaid back some of the loan it received in the bailout.

"American International Group (AIG), the troubled giant US insurer, is to repay one of the emergency rescue loans it received during the financial crisis.

It will repay the remaining $21bn outstanding from a $91bn loan from the Federal Reserve Bank of New York.

The move will pave the way for the US Treasury to sell a fifth of the insurer on the stock exchange early next year."

Looks like a long and steady road of recovery.

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