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The student loan market is politically untouchable because higher education historically produces citizens with added skills who repay the loans and earn higher over incomes time. Federal Reserve chairman Ben Bernanke, Fuld also believed, had made a wise decision to open up, for the first time, the Fed But the AIG rescue had failed to calm the markets, the panic was growing, and lawmakers were getting angry.
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, rode the elevator up to the thirtieth floor, strode through the glass doors, and slipped into the virtually empty executive suite on their own. The US official liabilities (dollar bills and Treasury Bills, namely, the US government bonds), which had been only half the size of its gold reserve until 1959, became one and a half times larger by 1967. These custom-made derivatives are calledover-the-counter (OTC) derivatives.
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