Friday, February 26, 2010

The verdict is in: AIG bailout is a loser

AIG posts $8.9 bn loss,   warns of more aid

We've heard the warnings on bailouts.   Now the verdict is in:
The insurer said in a filing with the Securities and Exchange Commission that without additional government support, "in the future there could exist substantial doubt about AIG's ability to continue as a going concern."
Bailouts don't work.   It didn't work for the airlines.   It didn't work for Chrysler.   Now we see it didn't work for AIG.

AIG is suggesting more taxpayer money is needed.   Our Congress better not take the bait.   If they do, they can be certain the voters will be taking names...


Ron Russell said...

Bail outs seldom work and it appears that AIG may have to bite the bullet this time around---guess they will no longer be too big to fail! Heck, we can't afford losers like them and should have know better to begin with.

hbl said...

Indeed. And, today Fannie Mae--another albatross around the taxpayers' neck--went back to the trough to suck out more of our money.