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N.Y. Okays AIG $20B Asset Shift To Avert Downgrade

New York Gov. David Paterson today agreed to allow American International Group to transfer up to $20 billion in high-quality assets from its insurance company subsidiaries to the parent company, as t

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New York Gov. David Paterson today agreed to allow American International Group to transfer up to $20 billion in high-quality assets from its insurance company subsidiaries to the parent company, as the huge international carrier struggled to regain the confidence of investors and avoid a potentially devastating rating downgrade.

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