AIG (AIG -1.3%) hasn't heard back from the Fed on its "fair" offer of $15.7B for the Maiden Lane...

|By:, SA News Editor

AIG (AIG -1.3%) hasn't heard back from the Fed on its "fair" offer of $15.7B for the Maiden Lane II MBS portfolio, CEO Robert Benmosche says, and the government is effectively auctioning the bonds off. He says "time is of the essence" on a decision; AIG has built up cash for the bid and is now underperforming.