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All the Money in the World-and Then Some

September 18, 2008
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All the Money in the World-and Then Some

NPR’s Morning Edition this morning reported on the causes of insurance giant A.I.G.’s downfall, letting us know that credit default swaps were “a $70 trillion business.” Reporter Adam Davidson says the credit-default swaps business soured and forced A.I.G. into an effective U.S. government receivership, which was announced late Tuesday night. But consider: Does $70...
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