I may be wrong, but I seem to remember that this has ben known for some time. The home loans to bad credit/no credit customers were bundled and sold upstream to lots of foreign banks and insured by AIG - hence the AIG bailout “bailed out” big foreign banks. The article below gives some perspective - there are probbably more succinct ones out there:
http://www.thenation.com/article/153929/aig-bailout-scandal
So, as I’ve posted before, AIG was kept alive (even though its stockholders were wiped out) to act as a conduit for the Fed to launder taxpayer money to banks foreign and domestic. It’s NOT that AIG was bailed out in this, but that the banks were made whole under the guise of AIG paying claims.