If AIG failed, it would set off a domino effect across the insurance industry and the cost of lost equity to TAXPAYERS would be infinitely larger than $85 billion.
“If AIG failed, it would set off a domino effect across the insurance industry and the cost of lost equity to TAXPAYERS would be infinitely larger than $85 billion.”
Good! All of our economic woes stem from bad investment due to credit expansion. We need an economic contraction to sort things out. So long as the fed keeps bailing people out, we are only prolonging the crisis.
Where does it end, wagglebee? How many of them can we bail out?