"""""AIG Breakup: $1 Billion Payday for Wall Street
August 6, 2009
(ChattahBox)—According to an analysis conducted by the Wall Street Journal (WSJ) on Wednesday, Wall Street is poised to reap a $1 billion payday from the controlled breakup of insurance giant AIG. The government is seeking to recoup some of the more than $100 billion in federal bailout money awarded to the company to keep it from failing.
With the federal government owning a 80 percent ownership stake in AIG, a multi-year plan controlled breakup plan would net Wall Street banks and lawyers nearly $1 billion in fees to help break up the giant company.
According to WSJ, the fees for the AIG breakup represent one of the biggest bonanzas in Wall Street History. """""
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