Honestly AIG is essentially an arm of the government.
They took a shit ton of bailout money as they insured virtually all of the credit default swaps back in 2006-2008.
They should have no legal basis to go after a citizen this way.
They essentially insured all of the default swaps.
When all of the incorrectly rated loans (which AIG should have done diligence on) failed it exposed the fact that AIG was not charging adequate premiums to cover the insurance it offered on credit default swaps.
And really that’s why default swaps were easy to exploit to begin with.
As Goldman and other banks realized the economy was about to tank they bought up default swaps as a short to insulate themselves.
This put AIG and their corrupt practices on the hook.
Bernanke himself admitted that bailing out AIG was the thing he was most upset about.
Social credit is upon us...
Honestly AIG is essentially an arm of the government.
They took a shit ton of bailout money as they insured virtually all of the credit default swaps back in 2006-2008.
They should have no legal basis to go after a citizen this way.
They essentially insured all of the default swaps.
When all of the incorrectly rated loans (which AIG should have done diligence on) failed it exposed the fact that AIG was not charging adequate premiums to cover the insurance it offered on credit default swaps.
And really that’s why default swaps were easy to exploit to begin with.
As Goldman and other banks realized the economy was about to tank they bought up default swaps as a short to insulate themselves.
This put AIG and their corrupt practices on the hook.
Bernanke himself admitted that bailing out AIG was the thing he was most upset about.
AIG got $132 billion of taxpayer money.