AIG, Canada and Enron

When AIG was bailed out to the tune of $182.3 billion (with a B), it was expected that the losses would not continue. However, the company posted a $1.43 billion operating loss from mortgage insurance in the first nine months of 2009.

In an attempt to raise money to payback the loans, AIG is selling off several units to raise $12 billion According to BusinessWeek, "More than three-quarters of the assets AIG agreed to sell since its bailout have non-U.S. acquirers, according to data compiled by Bloomberg."

The latest is the sale of AIG's Canadian mortgage division to to a group led by the Ontario Teachers’ Pension Plan. The same Ontario Teachers' Pension Plan that helped fund some of Enron's most striking failures, New Power and Enron Energy Services.