Aaa Insurance Quotes

AIG was looking worse and worse. It had a trillion-dollar balance sheet, 115,000 employees, and a slew of solid insurance businesses. But a hedge fund-like subsidiary called AIG Financial Products had put its franchise at risk, selling insurance against the risk of a housing slump. It had exploited the strength of AIG’s traditional businesses and AAA credit ratings

Because PERLS were complex foreign exchange bets packaged to look like simple and safe bonds, they were subject to abuse by the cheater clients. Although many PERLS looked like bonds issued by a AAA-rated federal agency or company, they actually were an optionlike bet on Japanese yen, German marks, and Swiss or French francs. Because of this appearance, PERLS were especially attractive to devious managers at insurance companies, many of whom wanted to place foreign currency bets without the knowledge of the regulators or their bosses.