Gümrük ve Ticaret Dergisi
Yazarlar: Mustafa ALI
Konular:-
Anahtar Kelimeler:2008 financial crisis,Bailout,AIG,Credit default swaps,CDS,Ethical and moral implications
Özet: The American International Group Inc. AIG was founded in 1919 in China and then it entered the USA in 1926. In 2007, AIG which was the largest insurance company in the world was in a deep trouble in 2008. The declaration of bankruptcy of this big company was prevented by the government by bailing out. However, many criticisms have emerged after bailing out because taxpayers’ money was given to a reckless and unsuccessful company. This paper will analyze the recent 2008 financial crisis, describe AIG’s role in the financial crisis, clarify their bail out and examine the ethical and moral implications in view of the government’s bailout to AIG. It will discuss whether using taxpayers’ money to rescue big companies is moral or not. It also will provide history of AIG company and some examples of bailouts in the USA’s history.