While it’s only “on paper,” the Federal Reserve made billions in profits from its bailout of American International Group, Inc., the Financial Times reported Wednesday on its Web site.
The Times reported that, when the Fed bought collateralized debt obligations (CDOs) from the insurance giant, they had a face value of $62.1 billion and a market value of $29.6 billion—but the estimated market value of the CDOs is now at least $45 billion, according to the paper.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
