AIG severs final bailout link with Treasury

WASHINGTON (AP) — The Treasury Department has sold its remaining warrants in American International Group Inc., severing its final financial link to the insurance company that got the government’s biggest bailout of the 2008 financial crisis.

Treasury received approximately $25 million for the warrants, which it sold back to AIG. Warrants give the purchaser the right to buy stock at a guaranteed price.

AIG President Robert Benmosche said in a statement Friday that the sale means “we are turning the final page on America’s assistance to AIG.”