BUSINESS

AIG Internal Emails: Insurers Correspondence Details Confusion During Crisis

03/18/2010 05:12 am ET | Updated May 25, 2011

The Cassano-Habayeb correspondence, along with thousands of other e-mails obtained by The Washington Post, as well as supporting interviews, reveal a company wracked by more division, doubt and turmoil than anyone on the outside realized during those tense months in 2007, a full year before the federal government undertook one of the largest corporate bailouts in U.S. history to prevent AIG's collapse.

The Financial Products unit had made AIG billions of dollars in the largely unregulated world of financial derivatives, operating primarily from Wilton, Conn., and London. But as the subprime mortgage boom began to deflate in 2007, some e-mails from New York took on an unfamiliar tone of concern.

Read more on washingtonpost.com

Suggest a correction