AIG Dusts Off Goldman Sachs Paper (AIG)

Posted in pre-market 
April 12th, 2010

American International Group (NYSE: AIG) is trading up after it cleared out some significant losses.  The WSJ has reported that AIG has unwound most of its mortgage swaps with Goldman Sachs that were left over after the government bailout, which will result in large charges yet get another eye sore off the books.  The insurance covering about $3 billion in mortgage pools has been unwound and will have brought on a loss for the company of $1.5 to $2 billion for 2009.

At 8:07 AM EST AIG shares are up 4% at $39.61 on almost 200,000 shares…. $1.30 higher and AIG will be back at multi-month highs.

JON OGG

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