American International Group Inc.'s ratings cut drove the cost of default protection on Wall Street banks to a record on speculation the insurer needs more cash to back $441 billion of credit derivatives.
If AIG spirals in the same way as Lehman, the ramifications will be much more substantial.
Bond Risk at Record on AIG's $441 Billion Counterparty Concern
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_Cds_O.VT1w
