Saturday, May 9, 2009

why AIG has paid so much taxpayer money to other banks

TO BE NOTED: From Marketplace:

Paddy Hirsch at the whiteboard

Collateral calls

Millions of Americans are wondering why AIG has paid so much taxpayer money to other banks. One reason is because AIG has had to honor "collateral calls" — demands made by banks on the insurance contracts it's written. Senior Editor Paddy Hirsch explains.

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