Banking, finance, and taxes
Goldman May Buy AIG Toxic Assets From Fed
Published:
The period in which financial toxic assets where considered the most dangerous assets a bank could hold has ended. The Wall Street Journal reports that Goldman Sachs (NYSE: GS) and other banks will bid for assets once on the balance sheet of AIG (NYSE: AIG). These collateralized debt obligations now held by the New York Federal Reserve have a face value of $47 billion. But, they could be sold for much less. The government would get some of investment in AIG. The potential buyers will work on the theory that these baskets of securities will increase in value as the economy and housing markets recover–perhaps not a bad gamble given the new health of the economy.
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