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Patty Hersh, a senior editor at Marketplace, discusses collateral calls in relation to AIG and the financial support provided to banks like Goldman Sachs. She explains that many inquiries have arisen about why taxpayer money has been allocated to these institutions, linking it to the issue of collateral calls related to credit default swaps. Hersh emphasizes the concept by comparing collateral calls to margin calls. She introduces an example involving an individual named Sam, who seeks to insure a $5 million investment in General Motors bonds through AIG. This sets up the discussion on the complexities and implications of collateral calls in the financial system.