Remember the fairy tale about AIG being an otherwise healthy insurance company that just got a little crazy selling credit default swaps? Well, it's time to put that one to rest. snippet.. Regulators have been turning a blind eye to this sort of thing because they are worried about putting the taxpayer investment in AIG at risk. Read that again: we invested billions in AIG and now we can't properly regulate it without putting that investment at risk. It's a brand new type of regulatory capture. Great work, team.
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