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The accusation is that the government used AIG to bail out the rest of Wall Street, forcing AIG to settle trades with big name Wall Street companies for a loss.
by unreal37 14y ago
The accusation is that the government used AIG to bail out the rest of Wall Street, forcing AIG to settle trades with big name Wall Street companies for a loss. And on top of that, the gov't charged 14% interest on the money it lent.
Yes, they could have "not accepted" that deal. But there are two sides to this.
- rjtavares 14y agoTrades that AIG took at fair terms. Sorry, but if an insurer insures something, it better damn well pay what it promised.