One of the greatest impacts of the Recession

Failure of the AIG

Deep Impact
IN Febuary, AIG circulated a report detailing how many people would be affected if the company were to go under. The scare tactic worked. AIG insures 180,000 entities, which collectively employ 106million people in the US alone. Among the list are tens of thousands of farms, hospitals and nonprofits. Stimulus spending? AIG says it insures every major infrastructure in America. Retirement savings? The company manages nearly 7million accounts. Aig itself employs 116,000. Yet a few hundred from it's Financial Services division devised the toxic deriavatives jeopardizing AIG- and the rest of us.
By Stephen Gandel and Barbara Kiviat.
Adapted from TIME