Goldman Sachs, Merrill Lynch, Deutsche Bank and other investment banks received as much as $37 billion from the loan that AIG secured from the U.S. government. Without the loan, the banks likely would be some of the largest creditors in a bankruptcy filing by the world's largest insurer. "It was the biggest crisis ever -- if you're an investment bank," said Joshua Rosner, a managing director at Graham Fisher & Co. "We didn't just save AIG. We saved the counterparties, the banks. It's true that it would have been a disaster, but it would have been a disaster for them."
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