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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?

February 13, 2008 in News Stories | Permalink

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