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.
By Warren Olney • • 1 min readAmerican 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?
The full episode
2 of 3
Could AIG Wreck the Global Economy?- 1:44'Substantial Doubt' about GM’s 'ability to continue'
- 7:32AIG, a Bottomless Pit for Bailout Money?You’re reading this
- 42:25Clinton Reaches Out to Russia, Iran at NATO Meeting
Warren Olney
former KCRW broadcaster
Andrea Brody
Senior Producer, KCRW's Life Examined and To the Point podcast
Christian Bordal
Managing Producer, Greater LA
Michael Crittenden
Reporter, Dow Jones Newswires
Mark Williams
former Bank Regulator and Examiner, Federal Reserve Bank
Felix Salmon
chief financial correspondent for Axios
The full episode
2 of 3Could AIG Wreck the Global Economy?- 1:44'Substantial Doubt' about GM’s 'ability to continue'
- 7:32AIG, a Bottomless Pit for Bailout Money?You’re reading this
- 42:25Clinton Reaches Out to Russia, Iran at NATO Meeting