And while the risk of making the loan was limited, the risk of not making the loan – of letting AIG, which was significantly larger than Lehman, fail – was certain to be huge.
And no other entity – not a private company, not a consortium of private companies acting together, not any other branch or agency of the government – was in a position to do anything. The clock was ticking, and default was imminent. There was no time to gather more information or find another solution. So I ask you, what would you have done?