The U.S. Justice Department is concluding a two-year criminal investigation into insurance giant AIG, which received over $180 billion in one the biggest bailouts in U.S. history. Prosecutors were unable to prove a criminal case against managers at the London-based AIG Financial Products, a sector of the company that sold billions in outstanding credit-default swaps. The investigation parallels a similar case against two former hedge-fund managers at Bear Stearns, who were acquitted post-trial.
Prosecutors are still considering filing civil charges against AIG and other companies, following last month’s civil saga between the SEC and Goldman Sachs.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.