Political Science Commons^™

Lessons Learned: Sarah Dahlgren, Alec Buchholtz, Rosalind Z. Wiggins

Journal of Financial Crises

Sarah Dahlgren was the Executive Vice President and head of the Financial Institution Supervision Group at the Federal Reserve Bank of New York (FRBNY) during the crisis and instrumental in the rescue of American International Group (AIG). This Lessons Learned summary is drawn from a March 22, 2018, interview in which she gave her take on how central bankers can prepare for future crises.

Lessons Learned: Chester B. Feldberg, Maryann Haggerty

Journal of Financial Crises

Chester B. Feldberg worked for the Federal Reserve Bank of New York (FRBNY) for 36 years in a variety of roles. In the aftermath of the Global Financial Crisis, he served as a trustee for the AIG Credit Trust Facility (2009-2011). The trust was established in early 2009 to hold the equity stock of American International Group Inc. (AIG) that the U.S. government had received as a result of the 2008 AIG bailout. The three trustees were responsible for voting the stock, ensuring satisfactory corporate governance at AIG, and eventually disposing of the stock.

When he was named as a …

The Rescue Of American International Group Module A: The Revolving Credit Facility, Alec Buchholtz, Aidan Lawson

Journal of Financial Crises

On September 15, 2008, the big three rating agencies downgraded AIG’s credit ratings multiple levels, exacerbating liquidity strains that the company was experiencing due to increasing cash demands by securities borrowers and collateral calls by credit default swap (CDS) customers. To prevent AIG from filing for bankruptcy, the Federal Reserve (the Fed) announced on the following day that, pursuant to its emergency powers, it would provide the company with an $85 billion Revolving Credit Facility (RCF). The RCF was secured by AIG assets and interests in its subsidiaries and required AIG to grant the US Department of the Treasury a …

Political Attitudes, Cognitive Style, And Political Persuasion, Halbert Bai, Gregory Mitchell, Philip E. Tetlock

Yale Day of Data

How do liberals and conservatives differ? Existing evidence suggests clear divergences on cognitive style and sociopolitical attitudes. However, theories such as the rigidity of the right hypothesis (Adorno et al., 1950; Tetlock, 1983) and the ideologue hypothesis (Rokeach, 1956) make incompatible predictions. The present research aims to reconcile these incongruities by employing measures that assess (a) cognitive style/open-mindedness, (b) perspective-taking, and (c) relationships between characteristics of procedural justice. Study 1 employed real-world arguments on highly politicized issues to examine rhetorical features that influence an article’s persuasiveness. We found evidence for the rigidity of the right hypothesis. In Study 2, participants …