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If AIG Goes Down...Yikes!

March 9, 2009

If AIG Goes Down...Yikes!

Fours days before receiving a second bailout to the tune of $30 Billion, AIG issued a confidential internal memo regarding what could happen if the insurance company failed.

Doomsday scenarios included:

  • The potential for cascading failure of US insurance companies
  • The potential that US companies in foreign companies could be permanently lost to nationalization
  • A run on the US dollar
  • Destroy US retirement savings
  • General economic meltdown similar to that of Lehman Brothers

Happy reading!


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