Ignorance of both the cause and potential risk of the financial system collapse is startling. Also the fact that the cost was fully recovered (plus interest) is ignored by most people who think banks were bailed out. I lost a ton $ personally but most taxpayers were unaffected.
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The bailout of AIG really helped. If those credit default swaps had failed many more financial institutions would have collapsed. Fortunately, AIG had the assets to sell to repay the loan with interest.
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