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...BlackRock report said that five of the six biggest creditors of AIG's financial-products division would have been willing to end the contracts for less than face value. French bank Société Générale, which was AIG's largest CDS counterparty, for instance, according to Blackrock was willing to unwind the bond insurance its had bought from AIG on its lowest quality bonds for 90 cents on the dollar, or for 10% less than what AIG had originally promised to pay. About 30% of the $16.4 billion in CDS contracts that SocGen had bought...
...Staff writer Naveen N. Srivatsa can be reached at srivatsa@fas.harvard.edu...
...Kimberly N. Meyer is a registered Democrat from Louisville...
After launching his music career as the lead singer of ’N Sync, Timberlake went solo in 2002. A year later, his debut album “Justified” won two Grammy Awards, one for Best Pop Vocal Album and another for the single “Cry Me a River.” His next album, “FutureSex/LoveSounds,” brought him another four Grammy Awards...
...Staff writer Naveen N. Srivatsa can be reached at srivatsa@fas.harvard.edu...