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Bank of America kept AIG’s legal threat under wraps for months
NEW YORK (Reuters) – Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with the matter. Bank of America shares fell more than 20…
AIG recapitalization ends, share sale could reach $18 billion
US Treasury’s cash investment equals $68 billion NEW YORK – The recapitalization of bailed-out insurer American International Group Inc closed on Friday, leaving the government with a 92 percent stake that it plans to sell quickly. Bankers were buzzing on Friday about how soon that might happen, with at least one saying…
AIG reaches deal to repay government
AIG announces plan to repay government; return to independent company after bailout AIG, which became a lightning rod for criticism over government bailouts, said it reached a deal to repay billions of dollars it received during the credit crisis. The plan announced Thursday could return a profit to taxpayers who…
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