Securities Law Prof Blog

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

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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?

http://lawprofessors.typepad.com/securities/2008/02/aigs-new-accoun.html

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