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Questions and Answers about AIG
This brief Q&A centers on the 2008 crisis involving American International Group Inc. (AIG), "a global conglomerate that does business in 130 countries and jurisdictions. Its biggest business is insurance, including life, property and casualty, commercial, as well as retirement products." Explains reasons for the AIG crisis, including credit default swaps ("contracts that act like insurance by protecting investors against default in a range of assets"), mortgages, and investments. From the Wall Street Journal.
http://blogs.wsj.com/wallstreetcrisis/2008/09/16/questions-and-answers-on-aig/
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