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AIG plans shift to mortgages

Insurance giant American International Group's (AIG) CEO Bob Benmosche said the company plans to sell its savings and loan business and expand in mortgages if a federal panel labels it "too big to fail." AIG received $182.5 bil in bailout money during the recession. It's repaid the loan, but the gov't still owns more than 15% of AIG. It said it expects to receive a "systemically important financial institution" or SIFI label, and to sell its S&L operations or turn them into a trust after that. Shares fell 0.59% to 31.98.