AIG (AIG) is in talks to sell a stake in its American Life Insurance (ALICO) unit to sovereign wealth fund Chinese Investment Corp., according to a report in Japan’s Nikkei business publication. The estimated value of the stake is $5.1 billion, which is great, since that’s $5.1 billion that can go to paying back the taxpayers.
But then, is that even a priority anymore? When the government’s bailout was structured as a bridge loan, then sure, using that cash to pay back the government was important, since the interest rate was so high. Now that the government’s money is structured more as a normal investment, what’s the hurry?
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