AIG tries to payback the bailout money and the fed says no?

Managing Real Estate Broker with ERA American Real Estate

Federal Reserve Bank of New York and BlackRock (BLK: 196.10 -0.95%) sold $1.3 billion of subprime mortgage bonds the Federal Reserve acquired from AIG upon bailing out the insurer three years ago.

The sale of the bonds came after the Fedearl Reserve rejected a bid from AIG to repurchase all of the assets in the Maiden Lane II portfolio for $15.7 billion.

 Richard Fisher, president of the Federal Reserve Bank of Dallas, said the central bank's "duty is to get the best returns on any investment and to do that in a responsible way."

 According to the Fed's website, it announced an offering of $1.5 billion in former AIG securities assets this week.

The Fed chose to have BlackRock sell the assets off in smaller pieces under the notion it would produce a higher profit for taxpayers.



Posted by

Brandon Jordan, Realtor,E-PRO,ERA American Real Estate

Thank you for adding me as a friend over the years on Facebook.

Now like my new business page on Facebook.


View Brandon Jordan's profile on LinkedIn

Brandon Jordan
Sr Vice President
ERA American Real Estate
Cell- (850)-758-1236
Fax- (850)-682-9439
Buy A Florida Vacation

"We provide this information and much more on our site for you 
at no charge, so please remember us when you're looking to buy
or sell real estate"



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Out Of The Box!
The "young" Real Estate Professional
Coldwell Banker United Realtors
Addicted to Active Rain
aig tries to payback the bailout money and the fed says no

Spam prevention
Show All Comments
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Brandon, I wonder if we the taxpayers get any of our money back.

Apr 10, 2011 05:21 PM #1
John Michailidis
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

I smell SCAM! Sadly, whenever the Fed Reserve, or the government in general says something will be good, I automatically assume they are running a scam to rip us off.

I HATE the fact that their actions have caused me to feel this way!

Apr 10, 2011 06:21 PM #2
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

The way the Fed handled sale looks like it was done responsibly. Do you have an opinion, Brandon?

Apr 11, 2011 03:35 AM #3
Brandon Jordan
ERA American Real Estate - Crestview, FL

E.J it is just hard to understand if a firm is trying to payback their debt why we wouldn't expect to allow them the chance to pay it back? Its good faith and goodwill for the company that needs that goodwill. They have made mistakes as a company with bonus that was a PR nightmare but I felt they should get a chance to pay their debt back. I also think if we are in such a bad financial situation as a country we should collect all the money as soon as possible.

May 01, 2011 08:22 AM #4
Brandon Jordan
ERA American Real Estate - Crestview, FL

Pamela I wouldnt count on it.

May 01, 2011 08:26 AM #5
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Brandon Jordan

Ask me a question
Spam prevention

Additional Information