WHEN: TODAY, THURSDAY, APRIL 7TH
WHERE: CNBC'S "STREET SIGNS"
Following is the unofficial transcript of breaking news from CNBC's Mary Thompson. All references must be sourced to CNBC.
THOMPSON: YES ERIN THIS CONCERNS THE AUCTION ON THOSE MAIDEN LANE II ASSETS THAT THE FEDERAL RESERVE HELD YESTERDAY. A SOURCE FAMILIAR WITH THE SITUATION CONFIRMING TO CNBC THAT AIG DID SUBMIT WINNING BIDS FOR SOME OF THOSE ASSETS SOLD YESTERDAY THE SOURCE COULD NOT SAY HOW MANY OF THE ASSETS AIG ACTUALLY BOUGHT BUT IN SPEAKING TO SOME TRADERS THEY SAY IF YOU LOOK AT THE SHEET IT APPEARS THAT ANYWHERE FROM 15 TO 17 OF THE 42 BONDS THAT WERE ACQUIRED YESTERDAY IN THE AUCTION WERE BOUGHT BY A SINGLE ENTITY. AIG DECLINED COMMENT OVERALL ON THE SALE. AGAIN YESTERDAY THE FED SELLING 42 OF THE 52 MORTGAGE BACK SECURITIES THAT IT OFFERED AS PART OF ITS EFFORTS TO WIND DOWN MAIDEN LANE II A SPECIAL PURPOSE VEHICLE IT SET UP AT THE HEIGHT OF THE FINANCIAL CRISIS TO TAKE TROUBLED ASSETS OFF OF AIGS BOOKS.
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