….the swaps contracts included provisions requiring the company to put up cash as collateral if AIG’s Triple A credit rating ever fell. When those downgrades came, signaling that AIG was no longer as reliable as it once had been, companies like Goldman Sachs that had done business with Financial Products demanded it put up billions of dollars. source msnbc.com.
This ladies and gentlemen led to the largest government bail out in US history, AIG, to the tune greater than three times California’s projected budget deficit and the true cause for the worlds economic system falling flat on its face.
The fall of Lehman Bros provided a catalyst that led to the fall of Europe and Asia. It wasn’t sub-prime, it was gambling and the Government is rushing to cover the bets as most countries were sucked into this.
Little boys and girls gambling with big Papas coin.
Who is the majority owner of AIG. I bet is not an American interest. So, it would seem we are giving money to foreign govenments again in the disguise of helping America.