AIG’s change from life insurance company to toxic asset holder
Markets opened lower this morning after news that the federal government is bailing out insurance giant AIG for the fourth time. The announcement came on the heels of AIG posting a $62 billion loss, the biggest quarterly loss in history. Our friend Dan Gross from Newsweek joins us to discuss the implications of this new $30 million taxpayer-funded bailout. He just wrote Dumb Money: How our Greatest Financial Minds Bankrupted the Nation.
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