US Government Sells More AIG Shares

6:25 AM, Sep 10, 2012   |    comments
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(WUSA) -- The government is selling more of its shares in insurer AIG.
The move should take the U.S. taxpayer from a majority shareholder to a minority one.

The government launched $182 billion bailout of the major insurer in 2008.

AIG says the Treasury Department is selling $18 billion worth of its common shares to institutional investors. The price is not yet determined.

AIG received the biggest of the Wall Street bailout packages  after suffering massive losses from investments in derivatives.

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