The U.S. government and hobbled insurer AIG have taken another step toward parting ways. The Treasury announced last night that following a transaction expected to complete on March 15 of next year, AIG will have paid back in full its debt to the New York Federal Reserve and Treasury's preferred AIG stake will be converted into common stock in anticipation of a sale to the private sector.

AIG also made an announcement regarding the transaction...

The Federal Reserve's $3.3 trillion in bailout maneuvering during the past three years of financial apocalypse has been complicated, and so it's difficult to isolate one particular "winner" from the many, many institutions who benefited from the central bank's largesse. But let's give it a shot anyway.

According to Bloomberg, "Bank of America Corp. and Wells Fargo & Co. were among the biggest borrowers from one program, the Term Auction Facility, with as much as...

AIG, the U.S. government's $100 billion-plus foster child, has succeeded in borrowing money from people not named Uncle Sam for the first time since its spectacular 2008 implosion, The Wall Street Journal reports.

According to The Journal, AIG sold $2 billion in three- and 10-year notes at yields that were higher than those of other insurers' bonds, an indication that AIG is still viewed as a riskier bet than its peers. The company is working...

"Have you ever noticed," the chairman of Citigroup, Richard D. Parsons, asked The Observer this Monday evening, "that in the NFL, or in the NBA, or in Major League Baseball, this guy was a failure at Cleveland, and then he becomes the coach in Houston? These guys just move around from one team to another. Why is that? Because there isn't a very deep pool of skilled talent that exists.

"And so, too, for...

AIG, the bailed-out insurance giant that often used as a shorthand for everything that's wrong with American capitalism, today announced a third-quarter loss of $2.4 billion, vs. a profit of $455 million a year ago.

Charges related to payback of the U.S. taxpayer bailout, coupled with writedowns of the value of some of the businesses it is selling, put the firm in the red. Excluding one-time items, the company lost $200 million.

"We continue to focus...

AIG, the enormous bailed-out insurance company, announced today that the sale of its ALICO life insurance unit to MetLife and its initial public offering of AIA on the Hong Kong stock exchange have netted billions of dollars to repay the U.S. government, which has generously and repeatedly extended a helping hand to AIG.

The ALICO sale closed today, bringing in $16.2 billion. That figure, coupled with the $20.51 billion brought in from the AIA IPO...

Bailed-out insurance giant AIG raised $17.8 billion in an initial public offering of its AIA Asian life insurance business, Bloomberg reports. The IPO marked the largest capital raise in the history of the Hong Kong stock exchange -- one of the rare moments in recent memory when AIG set any kind of record for doing something positive.

AIG had previously tried to offload AIA to rival insurer Prudential for $35.5 billion, but the deal was...

According to a Reuters report, investors are positively salivating as they envision an initial public offering of shares in AIA, the Asia life insurance unit of enfeebled, government-owned former Wall Street titan AIG.

Including an "upsize option," AIG is looking to gain $20.5 billion out of the IPO, which is slated to hit the Hong Kong stock exchange, Reuters said. That's a bigger haul than previous estimates, which were in the ballpark of $15 billion....