AIG, Adjustments Mount!
Posted on April 29th, 2005 by MoverMike
From the WSJ Online, AIG Will Delay Filing Again as Questions
Mount on Accounting
One new area under review involves AIG moving money into and out of hedge funds, in ways that may have been intended to burnish its quarterly reports, a person familiar with the matter said.Another person familiar with the matter said the expected impact on the company’s book value has risen to between $2.5 billion and $2.8 billion, roughly $1 billion higher than its previous top estimate on March 30. That would equate to about 3% of the giant insurer’s value.
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