Submitted by 04/01/09 , Click: , Source: insurance news net
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
Copyright © 2009 LexisNexis, a division of Reed Elsevier Inc.. All Rights Reserved
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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
Copyright © 2009 LexisNexis, a division of Reed Elsevier Inc.. All Rights Reserved
Terms and Conditions Privacy Policy
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