AIG credit default swaps September 2008 over $180 billion a premium
What firm insured obligations of various financial institutions using credit default swaps? What does the abbreviation CDS stand for? When did the government take over AIG? How much money did taxpayers provide in government support to AIG during 2008 and early 2009? What did AIG receive for promising to pay Party A in the event that Party B defaulted?
Another example relates to AIG, which insured obligations of various financial institutions through the usage of credit default swaps. The basic CDS transaction involved AIG receiving a premium in exchange for a promise to pay money to party A in the event party B defaulted. However, AIG did not have the financial strength to support its many CDS commitments as the crisis progressed and was taken over by the government in September 2008. U.S. taxpayers provided over $180 billion in government support to AIG during 2008 and early 2009, through which the money flowed to various counterparties to CDS transactions, including many large global financial institutions.
question: What firm insured obligations of various financial institutions using credit default swaps?, answer: AIG | question: What does the abbreviation CDS stand for?, answer: credit default swaps | question: When did the government take over AIG?, answer: September 2008 | question: How much money did taxpayers provide in government support to AIG during 2008 and early 2009?, answer: over $180 billion | question: What did AIG receive for promising to pay Party A in the event that Party B defaulted?, answer: a premium