Salem Radio Network News Tuesday, January 31, 2023

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A unit of American International Group that played an outsized role in the 2008 global financial crises is nearing its official end

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A unit of American International Group that played an outsized role in the 2008 global financial crises is nearing its official end

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AIG says its Financial Products unit has filed for Chapter 11 bankruptcy protection. Bad bids on mortgages by the Financial Products unit knocked parent AIG off its feet and a cascading series of bank failures nearly led to a global economic collapse. AIG was saved by a U.S. funded bailout that exceeded $182 billion.

 

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Gary Varvel
Fri, Jan 27, 2023

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