AIG mulling action against Goldman

According to the report AIG had lost $2 billion over the deals. FT said AIG is “considering pursuing Goldman Sachs over losses incurred on $6 billion of insurance deals on mortgage-backed securities similar to one that led to fraud charges against the US bank.”

Goldman net profit up

Meanwhile, Goldman Sachs Group Inc, said its net income nearly doubled to $3.29 billion, bolstered by big gains in trading and debt and equity underwriting. The earnings of $5.59 a share beat analysts’ average forecast of $4.01 per share. The bank reported its lowest-ever first-quarter compensation ratio, but it still set aside $5.5 billion for compensation and benefits in the period.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry