Re: Citigroup - The U.S. government sold off its remaining shares in Citigroup back in early December for $4.35 each, marking an exit from ownership in the bailed-out banking giant with a $12 billion gross profit for taxpayers.

DC is right, it was NEVER clearly explained to the public just how the bailout money was going to be recouped. But that $12 billion figure is what I keep hearing.

The Treasury invested a total of $45 billion to bail out Citigroup in 2008 and 2009 during the financial crisis. The company paid back $20 billion in preferred stock, while another $25 billion was converted to 7.7 billion common shares held by the Treasury.

As far as the bailed-out insurer American International Group goes, just as olivant already stated, the Treasury converted all its preferred shares of AIG into common stock of the insurer, claiming almost 93 percent of the company’s total shares. After a recapitalization deal closes on Friday, the Treasury will own 92.1 percent of AIG. The government rescued AIG from the brink of failure in September 2008 in a bailout that topped $182 billion.

This afternoon some of America's top bankers were in Manhattan to make a pitch for managing what could be one of the largest share sales in history -- a secondary offering for AIG. Goldman Sachs, Bank of America, JP Morgan, etc. are all contending to be the banker who manages the deal.