AIG reviewing possible legal action against Goldman

And here we all thought they were getting along so well. Young love can be so emotional sometimes. If this gets traction, the general love affair with Goldman could get dicey. CNBC:

AIG, the US government-controlled insurer, is considering pursuing Goldman Sachs over losses incurred on $6 billion of insurance deals on mortgage-backed securities similar to the one that led to fraud charges against the US bank.

AIG’s move over the deals that caused it a loss of about $2 billion is a sign that Friday’s decision by the Securities and Exchange Commission to file civil fraud charges against Goldman could spark actions from investors who lost money on mortgage-backed securities.

If AIG and others discover that their transactions had disclosure issues similar to those alleged in the SEC charges, they would be able to complain to the SEC, file a private lawsuit, or both, lawyers said.


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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