NY Fed Puts More AIG Bailout Assets On Auction Block

Law360, New York (April 18, 2012, 6:40 PM EDT) -- The Federal Reserve Bank of New York is fielding offers for nearly $30 billion in once-toxic collateralized debt obligations it bought from American International Group Inc. during the insurance giant’s 2008 bailout, the central bank said Wednesday.

The announcement kicked off a competitive bid process among major Wall Street players for assets in the Maiden Lane III LLC portfolio. The New York Fed originally created the fund to purchase $24.3 billion in CDOs that obligated AIG Financial Products Corp. to its trading partners under credit default...
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