An insider’s look at the AIG collapse

Unpublished diplomatic cables that were acquired by WikiLeaks reported that during the collapse of the American International Group Inc back in 2008, propriety information about the company were released by the Chinese Insurance Regulatory Commission (CIRC) to its rival companies, as believed by some U.S. officials. The reports say that CIRC intervened during the company’s collapse in September 2008 by forcing the local operations of AIG to open their books daily. CIRC then released the information that they obtained through this move to the competitors so that they will buy…

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