American International Group (AIG) stood at the centre of the financial crisis of 2008. It was one of the main institutions issuing credit default swaps. With default rates increasing and the economic climate worsening, it found itself in liquidity problems. AIG was forced to seek a government rescue and was effectively nationalised. Shortly after the bailout in 2009, it also become the centre of a media firestorm in the so-called AIG bonus payments controversy.

Questions:

Which factors leading to AIG's liquidity problems, bailout, and nationalisation.

The reasons and judgment behind the AIG bonus payments controversy.

What would have happened if AIG hadn't been saved.