As American International Group fights for survival, the question on everyone's lips is how could what was once the world's biggest insurer get itself into such a mess?
The answer has its roots in a decision in the late 1980s to hire a group of derivatives specialists from Drexel Burnham Lambert.
These formed the basis of AIG Financial Products, which wrote billions of dollars of derivatives, which are now at the heart of AIG's woes and are a long way from the mainstream insurance business that continues to lie at AIG's core.
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