(Via TPM )
Joe Nocera paints a very scary picture of what AIG has been doing, and what they mean to the larger financial meltdown.
It's an appropriately infuriating read, but it will help you understand why the taxpayer has every right to know what the hell is on AIG's books.
They're holding an alarming number of the credit default swaps that have the world's banks shaking in fear.
Every one that blows up, costs AIG billions of dollars they don't have.
And the government's writing them regular checks to keep them alive.
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