WSJ is reporting that AIG which was destroyed and had to be bailed out by the Treasury because of the collateral it had to pay to counterparties to mark to market CDS contracts, is now in the position of reaping some of that collateral back.
http://finance.yahoo.com/insurance/article/108039/in-reversal-of-fortune-aig-recoups-collateral
This is very interesting turn of events as the article is stating that AIG got almost $1B back from Goldman Sachs.
This is certainly good news for AIG, as I am thinking not many analysts had this factored into their models. Estimates have got to go up for AIG as their derivatives trading unit could post up to $2.5B mark up gains for the quarter.
Which only means more bonus money to the blind squirrels at AIGFP.
AIG is set to report earnings on November 11Th.
No comments:
Post a Comment