Treasury Plans to Return AIG to Independence ; Report

Bloomberg reports that the U.S. Treasury Department may announce plans as early as this week to return American International Group Inc. (AIG) to independence and recoup taxpayer money from the insurer’s bailout. The biggest part of that strategy is for Treasury to begin converting its $49 billion preferred stake into common stock for sales by the first half of next year, according to three people with knowledge of the talks.

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