October 9, 2022
The Crash of AIG, Revisited
AIG's corporate headquarters. Photo: AIG.
The first clue that something was terribly amiss with the insurance giant AIG should have been made manifest when the conglomerate began offering products–and financial products at that. What exactly does an insurance company produce? The short and nasty answer is that AIG manufactured precisely what it was meant to guard against. Namely, risk. Extreme risk.
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