AIG reportedly eyeing plan to spin off bad assets

LONDON (MarketWatch) — American International Group is considering forming a separate company to hold billions in securities that have dogged its balance sheet for the past several quarters, The New York Post reported, citing sources familliar with the matter. It’s working with J.P. Morgan Chase to spin off its bad assets in a move similar to what UBS has done to rid itself of mortgage-related assets. An unnamed official characterized the discussions as very serious and described the amount that AIG plans to offload as “dwarfing” similar structures done in the past, the report said.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

This entry was posted on Thursday, September 4th, 2008 at 4:28 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.