The bailout of American International Group (AIG) in September 2008 continues to be a matter of public controversy. It is essential that we learn accurate lessons from the crisis and not force the facts to fit preconceived notions.

Some have suggested that Treasury Secretary Timothy Geithner's congressional testimony last week conflicts with mine from last year, in which I said that AIG's crisis did not come from its insurance companies. An accurate understanding will dispel that suggestion. There are four key points to bear in mind: