Carol J. Loomis: "Revealed: 15 AIG bailout counterparties" - Fortune

Who would have heard of AIG just six months ago?  The losses are so incredible from the financial house of cards the figures are too large to understand.  [Excerpt]  ... A transcript of Thursday's hearings that was done by Congressional Quarterly contains a typo that nicely describes the whole disastrous mess that AIG has turned out to be for U.S. taxpayers. The speaker was New York superintendent of insurance Eric Dinallo, and what he said was, "AIG is a microcosm of our regulatory regime."  But the transcript says not "microcosm," but "microchasm." And that's what AIG has proved to be, a money pit of gaping proportions.  ... Read more.