Ben Bernanke Tells Judge He Wasnt Looking to Punish AIG

The transcript covers Bernanke's testimony regarding the AIG bailout during the 2008 financial crisis. Bernanke's demeanor was mostly serious, with a brief humorous moment. The case questions the legality of the Fed's actions and the harshness of the bailout terms. The government's defense argues that the intervention was necessary to prevent greater losses for shareholders.

What was the government's defense regarding the treatment of AIG?

What was the outcome for shareholders had the government not intervened?