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Kohn Says AIG Failure Would Have Been Disastrous

A bailout of AIG was inevitable in order to protect the financial system, said Fed Vice-Chairman Donald Kohn in testimony before the Senate Committee on Banking, Housing, and Urban Affairs on Thursday. Echoing comments made by policy-makers at both the U.S. Treasury and the Federal Reserve, Kohn said...

Posted to Fed and Economy Watch (Weblog) by Anonymous on Thu, Mar 5 2009

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