The NY Fed yesterday completed the sale of its former AIG mortgage bonds, with total profits...

|By:, SA News Editor

The NY Fed yesterday completed the sale of its former AIG mortgage bonds, with total profits from three auctions of the assets amounting to $2.8B for the U.S. taxpayer. That's above the $1.5B the Fed would have made had it accepted AIG's offer for the entire portfolio a year ago.