U.S. Plans Exit of AIG Stake - Berkowitz Winning So Far (52 Week High in AIG)

[BargainValueHunter]

http://www.businessweek.com/news/2010-12-09/u-s-will-sell-aig-stake-as-soon-as-practicable-massad-says.html

 

The U.S. Treasury Department, which agreed yesterday to a plan that will give it 92 percent of American International Group Inc.’s common stock, said it will dispose of the stake “as quickly as practicable.”

 

“We’ve made it clear all along that we intend to dispose of our investments as soon as practicable,” Tim Massad, Treasury’s acting assistant secretary for financial stability, said today in a Bloomberg Television interview. “Let me say we haven’t made any decisions about how to sell the shares.”

 

http://www.thestreet.com/story/10943113/1/aigs-largest-private-investor-raises-stake.html?cm_ven=GOOGLEN

 

In a Securities and Exchange filing on Thursday, the high-profile investment firm, which is run by Bruce Berkowitz, said it holds 41.9 million common shares of AIG, for total of 30%. Between Nov. 17 and Dec. 6 Fairholme, and the funds it managed, acquired 1.9 million shares in a price range of $41.03 to $43.56 and sold 58,400 shares for $40.80 apiece.

 

Will AIG be Berkowitz's General Re?

[Myth465]

What I dont understand is how does Berkowitz make money when the taxpayer lost money? When I add up all the paybacks I dont get close to the amount lent out.