“AIG, Fed, in Sub-Prime Bond Standoff” – WSJ
“American International Group Inc. is trying to force the hand of the Federal Reserve on a large portfolio of subprime-mortgage bonds it wants to repurchase, putting the central bank in the position of weighing taxpayers’ interests against those of the government-controlled insurer.
Earlier this month, AIG disclosed an offer to pay $15.7 billion, or roughly 53 cents on the dollar, for mortgage securities it once owned that have been on the Fed’s balance sheet since late 2008, after AIG was bailed out by the U.S. government.” Read more.
“AIG, Fed, in Sub-Prime Bond Standoff”
Serena Ng
Wall Street Journal, March 21, 2011.
Image by Kittikun Atsawintarangkul / FreeDigitalPhotos.net.
