But toxic mortgage-backed securities were pedaled by plenty of foreign banks. And the decision to pour $85 billion of U.S. taxpayers’ money into the rescue of American International Group (A.I.G.), the insurance giant, followed appeals from foreign finance ministers to Henry Paulson, the Treasury secretary, to save a global company. (See the whole column.)We believe the word the author intended was peddled. But some of these financial products were innovative, so who knows? Perhaps they had wheels.
Monday, September 22, 2008
The Bailout Bicycle
From The New York Times this morning: