Planet Money reporter Chana Joffe-Walt asks a simple question: Who was the federal regulator who was supposed to be regulating AIG? The answer turns out to be far from simple.
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NPR reporter and Planet Money contributor Chana Jaffe-Walt reports this story of what it really looks like when a bank fails and is taken over by the FDIC. She talks to the former employees and a handful of FDIC staff about the Friday night when the Bank of Clark County was interrupted and closed by 80 FDIC employees, who had every step of their secret operation down to a science.