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AIG's corporate headquarters. Photo: AIG.

Masters of Perfidy

The Crash of AIG, Revisited

Jeffrey St. Clair October 9, 2022

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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Jeffrey St. Clair is co-editor of CounterPunch. His most recent book is An Orgy of Thieves: Neoliberalism and Its Discontents (with Alexander Cockburn). He can be reached at: sitka@comcast.net or on Twitter @JeffreyStClair3. 

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Tents of displaced Palestinian families who returned to the ruins of Jalabia this week. (Still from a video posted to X.)

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