Stocks Look Soft, But Weekly Streak Continues

American International Group (AIG: 30.41, +0.61, +2.05%) is selling part of its stake in Asian insurer AIA Group to raise $6 billion as it continues to repay the massive $180 billion government bailout that prevented the company's collapse during the 2008 financial crisis. AIG currently owns 33% of AIA and the sale will cut its stake to less than 20%. Shares of AIA were halted in Hong Kong on the news. Meanwhile, AIG shares, while not moving in the premarket, closed 1% higher on Friday. The American taxpayer still owns three quarters of AIG. Continue reading this article

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