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"The people of AIG have achieved another significant milestone in our progress toward our goal that American taxpayers recoup their entire investment in AIG at a profit," AIG President and CEO Robert Benmosche said in a statement. AIG had a $19.8 billion profit in the fourth quarter of last year, nearly all of it due to a tax-related accounting gain. The company also earned $17.8 billion for 2011, its second straight year of profits. Despite the two years of profitability, AIG's recent financial results have been inconsistent. Over the past two years, only half of its quarterly reporting periods have been profitable. Treasury said it has hired Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC as joint coordinators for the common stock sale.
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