AIG Maiden Lane Assets Bought By CS, BAC, C – ValueWalk Premium

AIG Maiden Lane Assets Bought By CS, BAC, C

The Maiden Lane Auctions have closed today with some o the largest banks in America winning parts of the Assets once owned by Bearn Sterns and AIG. The biggest winners of the day were Citigroup Inc. (NYSE:C), and Merril Lynch, the investment arm of Bank of America (NYSE:BAC). The news was reported by Reuters today.

Citigroup's purchases were worth $1.44 billion. The assets on sale were Residential Mortgage Backed Securities Centralized Debt Obligations. It is the sixth sale of toxic assets . . .

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