Treasury’s AIG Share Sale Makes Taxpayer Minority Shareholder, Almost

Here is the biggest news: It is almost hard to fathom but the United States Treasury is nearly becoming a minority shareholder.

This week’s share sale reduced Uncle Sam’s remaining investment in AIG down to about 871.1 million shares of common stock.  In turn, that is now a percentage of ownership that went from about 61% down to about 53%.  After this offering, Uncle Sam has sold roughly 784 million common shares in AIG and it has received back some $23.3 billion since May of 2011.

CEO Robert Benmosche has been a very capable and effective leader of AIG.  He has managed to do well for the taxpayers, and it is during a time when he has cancer.  The next share sale will make the Treasury (that is the taxpayer’s money) a minority AIG shareholder.

JON C. OGG