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In truth, in the fairy-tale version of bailing out Lehman, the next domino, A.I.G., would have fallen even harder. If the politics of bailing out Lehman were bad, the politics of bailing out A.I.G. would have been worse. And the systemic risk that a failure of A.I.G. posed was orders of magnitude greater than Lehman's collapse.
Andrew Ross Sorkin -
The lesson of 2008 is that ultimately our markets are driven by confidence.
Andrew Ross Sorkin
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Some billionaires like cars, yachts and private jets. Others like newspapers.
Andrew Ross Sorkin -
The economic meltdown that would define every aspect of Obama's economy came to a head well before he became president, of course, and so did the legislation that would be the basis for everything that came after.
Andrew Ross Sorkin