"Boston’s largest money managers and their clients could face...

"Boston’s largest money managers and their clients could face billions in losses tied to the government bailout of American International Group, as local holdings that once exceeded $9 billion have lost more than 90 percent of their value in recent weeks.

Fidelity Investments held $4 billion in AIG shares — by far the largest allotment among local investment houses — as of June 30, the most recent regulatory reporting period. It is unclear whether the mutual fund giant lightened its position during the rocky two-month period that has unfolded since its last filing with the Securities and Exchange Commission.

AIG shares were trading at around $2.30 a share as of Thursday morning, compared to the stock’s $27.51 a share close on June 30.

Other major holders included:

• Wellington Management: 45.4 million shares valued at $865 million.

• Bank of America Corp.’s Columbia Asset Management: 24.8 million shares valued at $480 million.

• Putnam Investments: 7.3 million shares valued ay $192 million.

• Pioneer Investments: 560,000 shares valued at $14 million.

• MFS Investment Management: 46,000 shares valued at $1.2 million."

Obviously we like re-using names in Oz.

On short selling: the more things change the more they stay the same.....study the exploits of Joseph Kennedy (JFK's dad) - after making his fortune shorting, Roosevelt made him chair of the US Securities Commission!

Just entering the "hall of the slain" the majestic, enormous hall located in Asgard, ruled over by the god Odin. Athyrio reporting..........