AIG in Talks to shed Housing Unit
AIG, one of the biggest banks exposed to the sub-prime lending market collapse is supposedly in talks to sell off their housing arm which suffered greatly during the recession. One of the many financial institutions that have been hit hard, they are aiming to sell the branch off to stave off further exposure to the financial troubles they have already suffered in the past year or so. Faced with tons of problems, such as the much criticized bonus schemes that came after the company received bailout funds and more, they are seemingly doing some damage control to keep lawmakers out of their hair till they can fix the mess they’re already in.