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AIG Real Estate Deals in May Impact banks

 

Wednesday, Apr 01,2009, 2:08:45 PM   Click:

Copyright 2009 TheStreet.com, Inc.All Rights Reserved
TheStreet.com

30 March 2009 Monday 12:40 PM EST

SECTION: NEWS & ANALYSIS; banks

LENGTH: 126 words


TITLE: AIG Real Estate Deals in May Impact banks

Signature: Lauren LaCapra, TheStreet.com Staff Reporter



American International Group (AIG: NYSE) has reduced the late payment or partners in some of its real estate companies, potentially injuring several banks and developers, according to a report.

One side of the mall developer Alex Baker on May 15 put banks at risk of exposure to bad debts, according to the Wall Street Journal. Affiliate another developer, Mitchell L. Morgan Management, AIG has continued in February, alleging that the insurer has fallen behind on payments.


AIG Global Real Estate has more than $ 23 billion business, according to the document, creating a similar situation - on a smaller scale - with the counterparty risk that has led the government to intervene and strengthen the insurance giant struggling with $ 180 billion of public funds.

LOAD-DATE: March 31, 2009

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