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AIG Bailout Earns U.S. Treasury $15.1 Billion Profit After Selling Shares

People Responsible For AIG Bailout Say AIG Bailout Turned A Profit
Reuters
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FILE - In this Sept. 17, 2008 file photo, the AIG logo is shown in New York. While the economy has struggled to recover over the past two years, big U.S. companies have not only generated profits but grown them, quarter after quarter. companies have not only generated profits but grown them, quarter after quarter.(AP Photo/Mark Lennihan, file)

(Reuters) - The U.S. Treasury said on Tuesday that it expects to raise an additional $2.7 billion from its American International Group stock sale, allowing the United States to earn $15.1 billion from bailing out the insurer.

Underwriters have exercised their overallotment option to buy additional shares of AIG, the department said. Over the weekend, the Treasury had agreed to sell about 553.8 million shares of AIG, slashing the government's stake in the insurer to 15.9 percent from 53.4 percent.

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