Treasury completes $29.8 billion boost to AIG rescue; adds companies to mortgage relief plan
WASHINGTON (AP) — The government has completed the transaction providing nearly $30 billion more in support to American International Group Inc., minus $165 million in controversial bonus payments.
The Treasury Department also says it added Bank of America Corp. and Countrywide Home Loans Servicing to its mortgage relief program. That means a total of nine companies are participating in the $75 billion effort.
The department also approved the applications for six more banks to participate in the $700 billion financial rescue program, bringing the total number of banks being helped to 553.