we should hold hearings on why AIG is being bailed out if we win Congress in 2010. This sounds criminal to me.
It is criminal IMO. There was a lot of irresponsibility in this whole economic meltdown, but AIG was by far the worst. This last bailout makes something like 150 billion in taxpayer money. They say it will take another 100 billion to stabilize. We are between a rock and a hard place here. If we don’t bail them out, they will default on their credit swaps, and cause a chain reaction of bank collapse throughout the world. Continuing to bail them out, is outrageously expensive and results in the rewarding of bad behavior. I don’t think anyone knows for sure which will be the most costly to the taxpayer.
Someone needs to pay for this horrendous behavior.