Terrorism by another name: AIG is blackmailing America

AIG's CEO, Edward Libby, admitted today that credit default swaps brought down the company:

Mistakes were made at AIG, and on a scale that few could have imagined possible. The most egregious of those began in 1987, when the company strayed from its core insurance competencies to launch a credit-default-swaps portfolio, which eventually became subject to massive collateral calls that created a liquidity crisis for AIG.

But instead of letting AIG go quietly into the dark night, Liddy is trying to blackmail America and the world by using a threat. As Salon notes:

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