“AIG’s…actual and expected losses on subprime mortgage-backed securities and credit default swaps on [subprime]… threatened to force it imminently into bankruptcy.” Later, “AIG built up its concentrated exposure to the subprime mortgage market largely out of the sight of its functional regulators.”
Ben S. Bernanke, Chairman of the Federal Reserve. Prepared Testimony Before the Committee on Financial Services. March 24, 2009
Your support allows AES to continue to conduct independent research and investigations of the Regulatory Systems that allowed for the economic crisis. Thank you for your contribution.