MooseNSquirrel
Platinum Member
- Feb 26, 2009
- 2,587
- 318
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They should of gone out of business along with every other rotten bank and wall street firm who bet big on the housing bubble because capitalism needs failure to flush out the turds like AIG. This was one of the main arguments being made by those who were AGAINST the bailouts to begin with and wanted the market to sanitize itself by allowing FAILURE rather then have government move in and bail these assholes out using tax payer dollars.
And guess what that bailout was pretty much a nice little money making racket for banks as reported by Matt Tabi.
http://www.rollingstone.com/politics/news/secret-and-lies-of-the-bailout-20130104
However this news item is a great piece of irony for those like yourself who supported government intervention. I can see why you're so upset about AIG potentially turning around and biting the hand that kept it alive at tax payer expense because it demonstrates how flawed that course of actions was to begin with and how unintended consequences are evolving do because of government bailing these firms out.
Only fringe wackos believe letting the banks fail would have accomplished anything good.
Seriously, this has been debated and debunked to no end.
The problem has nothing to do with the bailout and everything to do with the lack of change after.