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Treasury Sheds Last AIG Shares

The Treasury announced Tuesday it will sell the remainder of its shares of American International Group, Inc. common stock. The move brings Treasury's stake in the company to an end. Together, Treasury and the Federal Reserve invested $182.3 billion to stabilize the failing insurance behemoth in September 2008 at the start of the financial crisis. In addition to recouping the total $182.3 billion, the Treasury incurred a positive return of $5 billion, while the Federal Reserve received a positive return of $17.7 billion.

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Report: White House Preparing to Replace DeMarco

Edward DeMarco's days directing the Federal Housing Finance Agency (FHFA) may be numbered, according to a report from The Wall Street Journal. "People familiar with the discussions" told The Wall Street Journal the White House is preparing to nominate a new director. According to those sources, administration officials are still in the process of gathering names for potential nominees. DeMarco has no shortage of nemeses both in and out of Washington, though he's not without supporters.

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Stewart Title Appoints Florida Agency Services District Manager

New

Stewart Title Guaranty's Florida operation gained a new face. The company announced the appointment of Kurt Blass as Florida agency services district manager. Blass brings 12 years of financial and management experience in the mortgage and insurance industries, having worked as regional controller for Stewart for eight years.

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Global DMS Appoints New COO

Global DMS, a provider of Web-based compliant valuation management software, selected Patricia Rauch for a newly created role. Rauch wears the title of COO and will be responsible for overseeing the daily operations and management of the company, including system development, client services, finance, sales and marketing.

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Consumer Confidence Takes a Dive Over Fiscal Cliff Concerns

A preliminary report from Thomson Reuters and the University of Michigan shows consumer confidence took a major hit to start December. The Thomson Reuters/University of Michigan Index of Consumer Sentiment fell to 74.5, a substantial drop from November's promising 82.7. The median forecast from economists polled by Reuters was 82.4. Richard Curtin, chief economist for the survey, said the decline stems from worries over Washington's apparent lack of progress in fiscal cliff negotiations.

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