Congratulations fellow taxpayers. Tomorrow the Federal Reserve will use our money and take 80% of the failing and about to be bankrupt AIG. What a great opportunity this is for us to show the world how benevolent we Americans are. In the interest of financial markets stability (is there really such a thing?) we will embark upon one of the biggest corporate welfare moves in history.
These are scary times, due in large part to the greed and irresponsibility of some, many of whom have cushioned away large fortunes and despite a loss of immediate income, will be just fine.
C’mon back down to my level where the working folks are.
Just as I have always had a problem handing money to the irresponsible amongst us who have played the system and lived off of the working taxpayers of our nation, I have equal disdain for those who seek a bailout to escape responsibility for their own irresponsibility and failure.
But alas — we will be told this is not a bailout, but a loan backed by securities. The government is not taking control of AIG because the same people will still be running the company.
HELLO!!!! Throw the rascals out, bring in a new management and operational team and get rid of those who forgot about risk management. To bail these people out and screw the stockholders and the American taxpayer to boot is a financial and governmental travesty in the first order.