The Aig Debacle

                                    

So-called dangerous derivatives were not the main cause of the financial meltdown of2008-09. True, AIG lost $39 B on derivatives but also $24 B on mortgages with no derivatives. The counter-parties on their derivatives were paid off 100 cents on the dollar.

                       

After all, government excesses, such as housing and poor monetary policy, produced economic problems, not bankers who became bystanders by necessity and happenstance. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)