Bloomberg—The Federal Reserve Bank of New York’s role in the $182.3 billion rescue of American International Group Inc. is ending on a high.
The central bank is planning to sell $3.4 billion in toxic mortgage debt today that it inherited four years ago when it bailed out AIG, once the world’s largest insurer. The assets are the last batch from its Maiden Lane III LLC portfolio created to purchase $62.1 billion of collateralized debt obligations tied to risky residential- and commercial-mortgage securities that helped sink AIG when property markets tumbled.
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