You And I Just Got $4 Billion Richer (AIG)

AIG AIG just paid us back to the tune of $4 billion. Not too shabby for a Monday morning payday. Reuters reports that the insurance company, 80% owned by U.S. taxpayers made a $4 billion payment this morning to payback the loan the government gave it back in 2008. This was the single largest payment AIG has made so far. The outstanding principal on the loan, net of any fees and interest, is now at just over $15 billion. This is the lowest it's been since December, when the balance was at just over $17 billion on the $30 billion credit facility from the Federal Reserve. In addition to the $30 billion credit line from the Fed, the Treasury has a $49 billion stake in the company, in the form of preferred shares. AIG made the payment after it sold over $4 billion worth of debt to investors through its aircraft leasing unit. Shares of American International Group, Inc. are up 23 cents this morning to $35.40.