Treasury completes $29.8B boost to AIG rescue

April 21, 2009 12:00:00 AM PDT
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.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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