Paulson And Bloomberg On The Crisis

Paulson on Lehman: “There were no buyers for Lehman Brothers.  It, it was a very sad situation to see a venerable firm like that go down, employees lose jobs.  Again, it was, it was a tough situation.”

Paulson on AIG: “It would have been, in my judgment, unthinkable to have AIG declare bankruptcy…AIG was so interconnected, it, it touched money market funds, it touched individual savings.  This is a classic example.  Insurance regulated by 50 different insurance regulators, and, and a holding company with just scant oversight at the federal level.  Very much a hedge fund on top of insurance companies.  Something like this, in my judgment, should never have happened.”

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