AIG and government agree on plan to pay back taxpayers
Thursday, September 30th, 2010 Auto Liability Property Workers' CompensationAmerican International Group Inc and the U.S. government agreed on a plan that would see the insurer repay taxpayers fully for bailing it out at the height of the financial crisis. The plan would see the Federal Reserve Bank of New York getting paid and the U.S. Treasury Department convert $49.1 billion of preferred stock into 1.66 billion common shares, AIG said on Thursday.
External References & Further Reading
http://www.reuters.com/article/idUSTRE68S3BM20100930
