MaidenLane II assets -
Original face value: $39 billion Purchased by the Fed in 2008 to rescue AIG: $22.5 billion Current face value: $31 billion AIG's offer today to 'take if off the Fed's hands": $15.7 billion
AIG's gall: Priceless
http://www.bloomberg.com/news/2011-03-30/new-york-fed-declines-aig-s-offer-for-maiden-lane-ii-mortgage-bond-assets.html <http://www.bloomberg.com/news/2011-03-30/new-york-fed-declines-aig-s-offer-for-maiden-lane-ii-mortgage-bond-assets.html>
On Thu, Mar 31, 2011 at 1:56 AM, Jordan Hayes <jmhayes at j-o-r-d-a-n.com>wrote:
> Did you see AIG wants to buy back a big part of their (ex-)portfolio?
>>>
>>
> Denied!
>
>
> http://ftalphaville.ft.com/blog/2011/03/30/532151/ny-fed-to-aig-thanks-but-no/
>
> [ The Federal Reserve today announced that it has declined
> American International Group's (AIG) offer to purchase all
> of the assets in Maiden Lane II LLC (MLII).
>
> After careful review, the Federal Reserve Bank of New York
> (New York Fed) and the Board of Governors of the Federal
> Reserve System (Board) judged that the public interest in
> maximizing returns from any sale and promoting financial
> stability would be better served by an alternative approach
> to realizing value that is also more consistent with normal
> market practice.
>
> ...
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-- Peter Fay http://theclearview.wordpress.com