AIG Stock Rises After Government Considering Converting Preferred Stock To Common Stock

In a recent article by Henry Blodget with tech/ticker, the US Government are working on a way to untangle itself from American International Group AIG. AIG recipients of one of the all time largest taxpayer bailouts is 80% owned by the government, $49 billion in which is in the form of preferred stock. The government is considering converting this to common stock which they did to untangle themselves from Citigroup C. According to Blodget "The AIG bailout will likely end up costing taxpayers far less than $182 billion." AIG is up over 4% from its close of $36.47 on Friday.