September 18, 2008
Need some explanation about the Wall St meltdown and AIG?
Could Wall Street Woes Set Off A Crisis? : NPR
“The Fed and the Treasury are very, very worried about the stability of the economy,” Greenberger says. “They’re worried about what this means to Main Street, about what it means to you and me. … In the absence of this rather dramatic move I think they believe that we would enter something much deeper, possibly, than a recession.”
This is a great interview that helps explain how AIG got into trouble, what the consequences of not bailing out Lehman was, why regulation of CDSes is banned by law, what CDSes are, and why things are only going to get worse.
Check it out – well worth your 38 minutes. Note that the link to interview is right below the headline of the page. Midway on the page there is another link, but that goes to an interview from 4/3 – also a great interview and on the same topic.
Great stuff!
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