The Federal Reserve has been repaid for its roles in the U.S. government bailout of American International Group Inc. in 2008 and the rescue of Bear Stearns Cos. earlier that year, Bloomberg News reported yesterday. The central bank’s $53.1 billion of loans to vehicles called Maiden Lane and Maiden Lane III, created to help save the companies, were paid back with interest, the Federal Reserve Bank of New York said yesterday. A separate entity, Maiden Lane II, finished being unwound through sales of mortgage assets earlier this year. Taxpayers remain at risk in the wake of the September 2008 bailout of AIG, once the world's largest insurer, which swelled to $182.3 billion in value. The Treasury Department still owns 61 percent of the New York-based company and needs to sell the shares at an average price of $28.72 apiece to break even. The Fed may still generate profits as it disposes of remaining assets in the vehicles.
