Fact check
Is it true: AIG bailout (Sep 16 2008 onwards)?
Yes — this is confirmed.
The $85B Fed rescue of AIG on 16 September 2008 (later $182.5B combined exposure) is fully documented. AIGFP under Joseph Cassano had sold $441B in CDS protection on subprime CDOs without adequate capital. ~$62B flowed through to Goldman Sachs and other counterparties at par. Cassano was not prosecuted. The $165M bonus controversy (March 2009) and the Starr v. United States SCOTUS ruling (2015) are public record. Government reported a $22B profit by December 2012.
The claim
The Federal Reserve extended an $85 billion emergency credit facility to American International Group on 16 September 2008 — the day after Lehman Brothers filed for bankruptcy — to prevent AIG's colla
Key evidence
$441B CDS book sold by AIGFP — documented in Fed and SIGTARP records
$85B initial facility (Sept 16 2008) — first use of Section 13(3) emergency powers for non-bank
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