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On March 2, 2009, the U.S. Treasury Department and the Federal Reserve provided insurance and financial giant American International Group (AIG) with its fourth bailout—up to $30 billion in capital over a five-year term by issuing non-cumulative preferred stock to the U.S. Treasury. The cash comes from the Troubled Asset Relief Program (also known as TARP funding). The deal also improved the terms on prior capital injections and preferred stock investment in AIG by the U.S. Treasury. Estimates differ, but the bailout monies delivered to AIG now total $140 to $150 billion. Recent news reports also indicated that U.K. fraud investigators and U.S. regulators were looking through the books of AIG Financial Products Group, the Mayfair, England-based subsidiary blamed for the company's speculative trading activities. For the fourth quarter of 2008, AIG reported a net loss of $61.7 billion.
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