AIG, Bank of America volley accusations of reckless greed at each other

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American International Group and Bank of America began volleying accusations of reckless greed at each other after AIG announced it is suing Bank of America for $10 billion. BofA denied selling AIG fraudulently overvalued residential mortgage-backed securities and charged that AIG “recklessly” chased high-return investments and knew the risks. AIG countered that is “disappointing but unsurprising” that BofA continues “to blame others for its own misconduct.”

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