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Monday, March 9, 2009

AIG has insured $1.6 trillion in derivatives

And, here, you thought AIG's $62 billion quarterly loss last month was bad.
As it turns out the company has a further $1.6 trillion in outstanding derivatives exposure, according to this leaked memo (from February 26, 2009) that AIG sent to the US Treasury in order to beg for another $30 billion.

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