AIG shelves plan to sell derivatives portfolio; hit by tax snag
In another eventful week, American International Group (AIG) has dropped plans to sell all of its controversial derivatives portfolio on one side of the business and walked straight into a tax issue over the proposed $15bn sale of Alico on the other.
The investments that AIG's Financial Products unit (AIGFP) made in derivatives were at the root of the company's near-collapse in September 2008. The original plan, devised by the former chief executive Edward Liddy and the government after the...
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