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6min chapter
Cautionary Tales
99% Invisible
Financial Crisis and the AIG Threat
This chapter explores the parallels between the financial crisis of 2008 and the infamous Oscar envelope mix-up, highlighting the failures of safety systems and the consequences of confusing communication. It discusses how AIG poses a bigger threat to the financial system than Lehman Brothers and how insurance contracts called Credit Default Swaps caused a meltdown in AIG and forced Wall Street banks to sell off their risky investments.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode