AIG Update from the Columbia Journalism Review

Economic Crisis, The Audit — January 27, 2010 02:08 PM

Advancing the AIG Story

By Ryan Chittum

"The immediate reason why AIG needed bailing out in the fall of 2008 was the collateral called in by the likes of Goldman Sachs due to both the deterioration of AIG’s credit rating and of toxic assets they’d bought insurance on from AIG. Could the government have stopped the collateral calls without directly giving Wall Street tens of billions of dollars?"

Read the whole story HERE.