Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I'm not defending the policy in general, I'm simply pointing out that in the context of the time, the decision made by FRBNY was not that strange. In fact, I might have made it myself and not through any love of GS or SG for that matter. They did not have "orderly wind down of any AIG creditors, whoever they may be" as an option.
by rootless2 on Mon May 9th, 2011 at 04:31:17 PM EST
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