The $182 Billion Bailout That Actually Kinda Worked
发布时间 2022-08-24 19:00:18 来源
摘要
Have you ever heard of a company called AIG? At one point, they were one of the largest shadow companies in the world, primarily dealing with insurance and financial products from the backend. For the longest time, they were extremely well respected and growing exponentially, but it wasn’t until 2008 that it was revealed that they had simply built an insane house of cards. You see, AIG was heavily involved in credit default swaps and risky securities lending which led to them posting the worst corporate quarters ever losing over $60 billion in a single quarter. Given the size of the company, the federal government didn’t want to let them collapse, so they came in with a record $182 billion bailout. Usually, bailouts work to save the company from utter collapse, but they don’t really fix the fundamentals of the company. So, generally, the companies end up slowly withering away over the next decade anyway. For example, take a look at GE. However, AIG was actually able to turn things around extremely quickly and even repay the insane bailout allowing the government to make a profit. This surprising success has caused many to look at bailouts differently as it doesn’t always have to end in a massive wreck. Yet, others are still skeptical due to ethical and moral reasons. This video explains the biggest corporate bailout in history and the rise and fall of AIG.
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Timestamps:
0:00 - $182 Billion Bailout
1:24 - Built On Hardship
4:24 - Fundamental Collapse
7:15 - Public Collapse
10:18 - The Bailout
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