Given the extent of the exposures of major banks around the world to A.I.G., and in light of the extreme fragility of the system, there was a significant risk that A.I.G.'s failure could have sparked a global banking panic.
I think the biggest difference is that I've noticed Western parents seem much more concerned about their children's psyches, their self-esteem, whereas tough immigrant parents assume strength rather than fragility in their children and therefore behave completely differently.
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