Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, February 13, 2008

AIG's New ACcounting Troubles Affect Market

AIG's new accounting problems are causing consternation on Wall St. just as the criminal trial involving a past AIG accounting fraud, involving phony loss reserves, is about to go to the jury.  NYTimes, At Trial, Lawyer Says Buffett Gave Approval.  PricewaterhouseCooper's report of a "material weakness" in the valuing of AIG's subprime mortgage-linked securities resulted in a $5 billion writedown and concern that further writedowns are still ahead.  WSJ, Is AIG on Slippery Slope?

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