Of all the Wall Street bailouts amid the Panic of 2008, none was more despised than the $182 billion lifeline for American International Group.
A global insurer hungry for profits, AIG staked its reputation for financial strength on a risky derivatives business that Federal Reserve Chairman Ben S. Bernanke likened in 2009 to a gigantic hedge fund. The firm sold credit protection to the buyers of shaky mortgage-backed securities, and when those securities tanked, so did AIG.
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Source: http://feeds.washingtonpost.com/click.phdo?i=1a52a2d0ff6d545beae58474a15af6ea
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