New York Times reports that an $85 Billion loan is being given to AIG in return for an 80 percent stake in the "troubled" insurance company. This continues a trend of bailing out those corporations that are too big to fail, but apparently not important enough to the country to be properly regulated and monitored.
It has been widely bruited about that the government is no longer going to bail out the poorly run Masters of the Universe companies, but that means that pretty soon we are going to quit, not just yet. It is a dilemna, of course because the failure of the behemoths would, indeed, put a real hex on the economy and they are important to the continued functioning of the economy, like heroin is to the functioning of a junkie.
It will be the next administration who will have to try to pick up the pieces-and 85 Billion dollars is just a piece-of the economy. The room for maneuver and for instituting new and better social programs is being squeezed by the socialism for the rich policies of the elites. The only answer I can come up with is to tax the beejeebus out of the rich so that we can get the money back in the system and out of their estates.
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