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Did AIG's London Office Lose Half A Trillion Dollars?

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Britain's serious fraud office and U.S. regulators are combing through the records of AIG's Financial Products Group, formerly located on the fifth floor of an office building in London's
The unit's small group of traders risked nearly half a trillion dollars to insure U.S. mortgages and other debt using complex financial products called credit default swaps, according to recent congressional testimony.

$280 million of the in-falling currency matter apparently went to the group's head, Joseph Cassano, over the course of the last eight years.
Just... wow.
AIG's Small London Office May Have Lost $500B