• For example, it is almost certainly the case that the securities-lending scheme undertaken by American International Group’s life insurance subsidiaries would have taken down the company by itself, had the collateral calls on AIG Financial Products’ credit default swaps not done so first.

2018 0311 - InsuranceJournal.com - Ross vs. Schwarcz: Scoring the Throw-Down, By R.J. Lehmann - [link]