Fed to Start Auction of AIG Bonds Acquired in Bailout

The Federal Reserve Bank of New York and a unit of BlackRock Inc. (BLK) are planning to circulate a first list of subprime-mortgage bonds this afternoon for Wall Street dealers to bid on, according to traders. The move will mark the start of a series of auctions for assets in a large portfolio of residential mortgage-backed bonds that the Fed acquired in 2008 as part of the bailout of AIG (AIG) – The WSJ

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