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Back to To the Point

To the Point

AIG, a Bottomless Pit for Bailout Money?

American International Group , the world's largest insurance company, got $150 billion in federal bailout money in the last quarter of 2008 and still lost $62 billion. The Obama administration has promised AIG $30 billion more.

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By Warren Olney • May 12, 2014 • 1 min read

American International Group, the world's largest insurance company, got $150 billion in federal bailout money in the last quarter of 2008 and still lost $62 billion. The Obama administration has promised AIG $30 billion more. Today an angry Senate Finance Committee threatened not to go along, unless it finds out where that federal money is going. But the Federal Reserve said revealing AIG's creditors would destroy the company, which is so big it could take the world's financial system along with it. How did it get that way? Where has all that taxpayer money been going? Is there an option to pouring in billions more?

  • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

    Warren Olney

    former KCRW broadcaster

  • KCRW placeholder

    Andrea Brody

    Senior Producer, KCRW's Life Examined and To the Point podcast

  • KCRW placeholder

    Christian Bordal

    Managing Producer, Greater LA

  • KCRW placeholder

    Michael Crittenden

    Reporter, Dow Jones Newswires

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    Mark Williams

    former Bank Regulator and Examiner, Federal Reserve Bank

  • KCRW placeholder

    Felix Salmon

    chief financial correspondent for Axios

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