The Federal Reserve Bank of New York is near collapse, for it failed to pay back bailout cash.

In spring 2009, a bank examiner inside the Federal Reserve Bank of New York called colleagues with worrisome news: The global banking giant that despite taking more than $476 billion in bailout cash and guarantees, the most of any rescued bank, was near collapse.

Typically, a person who goes over five minutes without heartbeat, blood flow or oxygen is in serious danger of permanent brain damage. Less than 10 percent of those who suffer an out-of-hospital cardiac arrest survive, because it usually takes much longer than five minutes to get such people from their home to the help they need.