TIGHT SQUEEZE IN THE WAR ROOM In rescuing AIG in 2008, the Fed, by its very nature a conservative institution, had stepped far outside its comfort zone. In New York, the Fed had pulled some of its best people from bank supervision and created a war room on the 13th floor of its offices in downtown Manhattan to tackle AIG. The roughly 20 foot by 15 foot (6 by 4.5 meter) conference room was packed with some 15 Fed officials working long hours for weeks through early 2009. Even now one can ...
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