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Fed’s Aid in 2008 Crisis Stretched Worldwide
The New York Times: WASHINGTON — Tuesday morning, Sept. 16, 2008, was perhaps the darkest time for the United States economy in modern memory — even if nobody knew it quite yet. It was barely 24 hours removed from the bankruptcy of Lehman Brothers, and a few hours before the government would rescue the insurer American International Group.
Events had been set in motion that would drive the unemployment rate to double digits and cause half a decade of economic misery.
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