{"id":10087,"date":"2008-12-10T18:33:57","date_gmt":"2008-12-10T18:33:57","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/aig_faces_10_billion_in_losses_on_bad_bets\/"},"modified":"2008-12-10T18:33:57","modified_gmt":"2008-12-10T18:33:57","slug":"aig_faces_10_billion_in_losses_on_bad_bets","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=10087","title":{"rendered":"AIG Faces $10 Billion in Losses on Bad Bets"},"content":{"rendered":"<p>American International Group Inc. owes Wall Street&#8217;s biggest firms about $10 billion for speculative trades that have soured, according to people familiar with the matter, underscoring the challenges the insurer faces as it seeks to recover under a U.S. government rescue plan.<\/p>\n<p>The details of the trades go beyond what AIG has explained to investors about the nature of its risk-taking operations, which led to the firm&#8217;s near-collapse in September. In the past, AIG has said that its trades involved helping financial institutions and counterparties insure their securities holdings. The speculative trades, engineered by the insurer&#8217;s financial-products unit, represent the first sign that AIG may have been gambling with its own capital.<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB122887203792493481.html?mod=testMod\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American International Group Inc. owes Wall Street&#8217;s biggest firms about $10 billion for speculative trades that have soured, according to people familiar with the matter, underscoring the challenges the insurer faces as it seeks to recover under a U.S. government<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=10087\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,595,149,599,596,594],"tags":[],"class_list":["post-10087","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-credit-markets","category-economy","category-stock-market","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-september-2008-proposed-henry-paulson-700-billion-bailout-package"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/10087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10087"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/10087\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}