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The Fed can lend to nonbanks
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The Fed can lend to non-banks under "unusual and exigent circumstances". We're thinking of...

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Henry Paulson: The Fed can lend to non-banks under "unusual and exigent circumstances". We're thinking of taking over 80% of the company. Jim Wilkinson: Hank, we can't! This morning we were lecturing the entire country on moral hazard. Henry Paulson: AIG has collateral, they have assets, Lehman didn't. We couldn't lend into a hole, it's not the same story! Jim Wilkinson: Nobody is going to care, it's another bailout! With no legislation, the Hill is gonna go crazy, the country is gonna go crazy... Henry Paulson: The plane we flew in on this morning, leased from AIG. Construction downtown, AIG. Life insurance, 81 million policies, with a face value of $1.9 *trillion*. Billions of dollars in teachers' pensions! It's everywhere! You want "too big to fail", here it is! You got a better idea, the suggestion box is wide open!


Transcript

00:00:01.000 --> 00:00:02.968
The Fed can lend to nonbanks
00:00:03.998 --> 00:00:05.704
under unusual and exigent circumstances
00:00:05.738 --> 00:00:09.475
We're thinking of taking over 80 of the company
00:00:11.745 --> 00:00:14.028
Hank we can't
00:00:14.314 --> 00:00:17.383
This morning we were lecturing the entire country on moral hazard
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A I G has collateral They have assets
00:00:20.254 --> 00:00:23.656
Lehman didn't We couldn't lend into a hole
00:00:23.691 --> 00:00:25.459
It's not the same story
00:00:25.493 --> 00:00:27.427
Nobody's gonna care
00:00:27.462 --> 00:00:30.231
It's another bailout with no legislation
00:00:30.265 --> 00:00:32.433
The Hill's gonna go crazy The country's gonna go crazy
00:00:32.467 --> 00:00:34.468
The plane that we flew in on this morning
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leased from A I G
00:00:36.047 --> 00:00:38.671
Construction downtown A I G
00:00:38.705 --> 00:00:41.064
Life insurance 81 million policies
00:00:41.675 --> 00:00:43.976
with a face value of 1 9 trillion
00:00:44.003 --> 00:00:47.028
billions of dollars in teachers' pensions it's everywhere
00:00:47.314 --> 00:00:49.882
You want too big to fail Here it is
00:00:49.916 --> 00:00:51.884
You got a better idea
00:00:51.918 --> 00:00:54.001
The suggestion box is wide open

Clip duration: 56 seconds
Views: 135
Timestamp in movie: 00h 55m 52s
Uploaded: 25 November, 2022
Genres: biography, drama, history
Summary: Chronicles the financial meltdown of 2008 and centers on Treasury Secretary Henry Paulson.


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