Maurice R. Greenberg, the former chairman of the American International Group, said Thursday that the government’s $170 billion bailout had failed and that taxpayers would have been better off letting the company go bankrupt.
“It is clear that the current approach has not worked and cannot work in today’s environment,” Mr. Greenberg, who was ousted from A.I.G. in 2005, told the House Oversight and Government Reform Committee. “A.I.G., in my judgment, in the current plan, will not pay the taxpayers back.”
Will this now officially put the ball in the peoples court who said the bailouts were bad? Will those people who said that the bailouts will not work and are bad in the long run now get a say? Probably not, but who knows. The people who brought about this problem don’t have a CLUE how to fix it. When will people wake up? Is it going to take bare food shelves? By that point the hole is going to be too big to fix.
In other bailout news Savior BO decided that it maybe is to just let GM go bankrupt. First decent decision he has made since becoming President.
Wow. Take a look at that last statement. The President now has the power and authority to pick and choose which companies can go bankrupt and get bailed out. This isn’t socialism anymore, it’s fascism.
Things are not going to get better in this country or around the world until the governments let bad companies fail. This concept is what gave Americans one of the highest standards of living for the entire world. If you suck, you suck. Try again at something else. This moral hazard that the government has created is going to be insane. Politicians blame all these problems on the free market. I say bullshit. They want to be able to control and regulate their part of the market to benefit them and their buddies. Don’t you people get it? You’re getting punk’d!
Filed under: Paulitics Tagged: | AIG, American Idol, Bloomberg, GM, New York Times, NFL Draft, obama, Recipes, Ron Paul, Youtube
That was great NFL articles