The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK (TheStreet) -- In the midst of the Greek crisis, a report was issued last week by a watchdog government agency assessing how the Federal Reserve handled the AIG crisis. Remember that one? At one point, the Feds had ponied up $182.3 billion to save AIG (AIG). And let's put this in perspective: so far, the ECB/IMF has only agreed to a $151.5 billion bailout for Greece. But it is interesting. The European governments convinced the banks to settle for 50 cents on the dollar. AIG? The U.S. government insisted that AIG pay its creditors in full. Let's take a moment to refresh our memories on AIG.
AIG RevisitedThe following comes from an article I wrote in April 2010:
1. On July 10, 2006, Henry Paulson left his job as CEO of Goldman Sachs (GS) to become Secretary of the U.S. Treasury. Keep in mind that Goldman Sachs was a major client of AIG.
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