AIG to Pay Back $37B in Bailout Cash‎

AIG to Pay Back $37B in Bailout Cash‎

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AIG logoInsurance giant AIG is poised to repay 36.7 billion dollars in government bailout aid.

In recent days American International Group raised the money through “the sale of one of its premier subsidiaries and the initial public offering of another,” reports the Washington Post.

Those funds will be used to repay emergency loans from the Federal Reserve Bank of New York, which stepped in to rescue AIG in September 2008 as it teetered on the edge of bankruptcy.

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