WASHINGTON--A report today by the board overseeing the Troubled Asset Relief Program (TARP) shows that the value of the government's investment in American International Group declined 63 percent within six weeks of the time the money was expended.
The report said the $40 billion investment made in AIG was the worst decision the government made under the TARP, followed by its $20 billion investment in Citigroup, which it valued as of Nov. 24 as worth $10 billion.
The report said the $40 billion investment in AIG, made Sept. 17, 2008, was worth $14.8 billion as of Nov. 10, the date it was valued.
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