AIG Maiden Lane Assets Bought By CS, BAC, C

The Maiden Lane Auctions have closed today with some o the largest banks in America winning parts of the Assets once owned by Bearn Sterns and AIG. The biggest winners of the day were Citigroup Inc. (NYSE:C), and Merril Lynch, the investment arm of Bank of America (NYSE:BAC). The news was reported by Reuters today.

Citigroup's purchases were worth $1.44 billion. The assets on sale were Residential Mortgage Backed Securities Centralized Debt Obligations. It is the sixth sale of toxic assets by from the Federal Reserve's portfolio of the assets. The Fed holds about $47 billion of...