AIG: Obama’s Sunshine

US President Barack Obama has pledged «an unprecedented level of openness in government”. Senators now want to know which of American International Group’s counterparties were made whole thanks to $180bn of government funding. A full explanation from the administration could put conspiracy theories to rest. A good chunk of the once high-flying insurer’s bailout cash has gone to settle some of the company’s $500bn in credit default swap exposure. Naturally that benefits trading partners which wo...