NY Fed: Maiden Lane III “AIG bailout” generates $6.6B

The fed recently sold its remainder share (ML III) related to the bailout assistance given to AIG during the recession, which resulted in a $6.6 billion profit.

“The completion of the sale of the Maiden Lane III portfolio marks the end of an important chapter—our assistance to AIG—that was undertaken to stabilize the financial system in the midst of the financial crisis. I am pleased that we were able to achieve our principal goal, which was to protect the U.S. economy from the potentially devastating effects of AIG’s failure, while demonstrating sound stewardship of taxpayer interests. I am proud of and commend all of the people at the New York Fed who worked tirelessly and diligently to get us here.”

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