Mar
18
Why would we really expect a company that participated in so many “creative” and “exotic” loans that blew up in their face be responsible with any more money entrusted to them. It is our own fault for bailing out a company that should have failed in the first place. The real outrage should be directed on those who pushed hard to bailout AIG.
In the end it is the American people who lose out. A very bad precentdent has been set by this finanial crisis just like during the financial crisises of the 1930s. We now have a “de facto nationalization of AIG” (as quoted from an interview with Barney Frank). Billions of dollars sunk into trying to “fix” this crisis with nothing to show for it but a ailing economy and hard times. Either way hard times were going to hit the economy due to a propped economy. Letting the government become intimately involved only prolongs the effects of this recession, make the situation even messier.
