Nasdaq and AIG Sever Ties to Avoid Scrutiny

And yet another example of the incestuous nature of the US capital market system. This time its the NASDAQ though.

On 12/23/2004, Reuters published a story that states that American International Group (AIG - the largest insurer in the world according to market cap) is selling its interest in a joint venture it has with NASDAQ.

A spokesman for AIG, which is facing a separate investigation by New York Attorney General Eliot Spitzer, told the Wall Street Journal that AIG, the world's largest insurer by market value, was selling the stake because 'we want to eliminate the appearance of potential conflict.' You can read this brief story here: http://tinyurl.com/6lk99