Craig Sebastiano and Steven Lamb

AIG deemed too big to fail

The United States Federal Reserve Board came to AIG’s rescue late Tuesday evening by authorizing the Federal Reserve Bank of New York to lend up to $85 billion US to the insurance company. “The board determined that, in current circumstances, a disorderly failure of AIG could add to already significant levels of financial market fragility […]

By Craig Sebastiano and Steven Lamb |September 17, 2008

3 min read