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Gary Cohn fears this is how the next crisis will happen

Global Financial Crisis: 10 years on
Global Financial Crisis: 10 years on

The global financial system nearly blew up nine years ago when AIG’s collapse threatened its ability to make good on complex insurance contracts sold to Wall Street.

Federal regulators took this risk so seriously that they came to AIG’s (AIG) rescue with a controversial $ 180 billion bailout to prevent the insurance behemoth’s failure.

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