On Mar 2, 6:41*pm, Howard Kveck wrote:
In article ,
*"Mike Jacoubowsky" wrote:

Should the government own 80% of AIG, or should it have let it fail?

* *Since it is *so* tied into the world-wide economy, it became something that can't
be allowed to fail (and I believe that no entity should ever be allowed to "get so
big it can't be allowed to fail"). However, the fact that they were doing business
with the big banks of so many countries that makes me think that the governments of
those other countries need to pony up also.



Dumbass -


The only problem is: it's our fault.

Phil Gramm started the ball rolling with the "Commodities Futures
Modernization Act". Google it. Then Greenspan compounded the error by
letting the post 9/11 easy money policy go on for 2 or 3 years too
long. Because of the ways the derviatives spread risk, we spread the
contagion to all the other large financial institutions in the world.

It's a ****ing mess. There was a reason that those types of financial
instruments were outlawed after 1929. Thank you very much Phil Gramm.
****ing asshole.


thanks,

K. Gringioni.