NEW YORK (Reuters) - Top executives at American International Group Inc (AIG.N: ) knew of potential problems in valuing derivatives contracts, known as credit default swaps, long before questions about the risky transactions caused its stock to plummet, the Wall Street Journal said, citing documents released by congressional investigators. The problems with these swaps would have driven AIG into bankruptcy -- if not for a $123 billion federal rescue, the Wall Street Journal said Sunday in a story on its website. A federal criminal probe is investigating how candid AIG executives were with investors at a December 2007 investor conference and whether executives at AIG's financial-products unit, which sold derivatives contracts, misled AIG's outside auditor last fall, the Journal said. At congressional hearings on Tuesday, a...
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