Securities Law Prof Blog

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

A Member of the Law Professor Blogs Network

Friday, June 6, 2008

SEC and DOJ Investigate AIG

The Wall St. Journal reports that both the SEC and the Department of Justice are investigating whether AIG overstated the value of credit default swaps, which are contracts that insure against default of securities, including those backed by subprime mortgages.  In February AIG announced that its auditor had found a "material weakness" in its accounting, and AIG has suffered two consecutive quarterly losses, the largest in its history, because of swaps-related writedowns.  WSJ, SEC, Justice Scrutinize
AIG on Swaps Accounting.

http://lawprofessors.typepad.com/securities/2008/06/sec-and-doj-inv.html

News Stories | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00e552f7638d8834

Listed below are links to weblogs that reference SEC and DOJ Investigate AIG:

Comments

Post a comment