Ahmanson Unit Says U.S. Makes Concessions

An H.F. Ahmanson & Co. subsidiary said the U.S. government conceded liability on three of the five transactions at issue in the company’s suit over the loss of $572 million in “supervisory goodwill.” The move is part of a series of government concessions in lawsuits over whether the U.S. reneged on promises it made to encourage investors to take over failing thrifts in the 1980s. The three transactions on which the government conceded involve about $375 million in a paper asset called supervisory goodwill, which was wiped from the books of Ahmanson’s Home Savings of America unit when Congress abolished supervisory goodwill in 1989. Ahmanson said the U.S. didn’t concede that it owed any damages, however, meaning the company will have to litigate that issue. The company also said it will press its case for liability on the other transactions. Shares of the Irwindale-based company fell 81 cents to close at $61 on the NYSE.