Fatal Risk: A Cautionary Tale of AIG's Corporate Suicide
The true story of how risk destroys, as told through the ongoing saga of AIG
From the collapse of Bear Stearns and Lehman Brothers, the subject of the financial crisis has been well covered. However, the story central to the crisis-that of AIG-has until now remained largely untold. Fatal Risk:...more
This is the story behind the story of the financial crash. Everyone who thinks they've been hoodwinked by the government, Goldman Sachs, or AIG should read it.
I worked at AIG for 25 years ago and probably learned more about how the world works in my first week than in four years of college.
When I read in 2005 that legendary CEO Hank Greenberg was out, I thought, there goes the company. Actually, there went the US economy. This bo ...more
However, the story-telling aspect of this "Tale" really fell flat. The presentation was choppy, and ultimately distracting. Though probably unavoidable given the subject matter, parts of this book is not readily accessible to those who only have a surface familiarity with derivatives, securitizati ...more
And that is my only beef. The book did a great job of telling the history of AIG and how they got themselves involved in the mortgage mess. It is my hope that policy makers read this book to better understand what happened.