Wednesday, September 17, 2008
Government Bails Out AIG
So the the government will be "loaning" AIG money so that they do not fall under which would have potentially resulted in an economic meltdown. It's not that any one president is ever responsible for the entire economy but it is consistent with the Republican platform to deregulate financial institutions and to limit government oversight of some of our esteemed financial institutions. Perhaps this all started with President Clinton, but somewhere along the way, lenders and the general Wall Street fat cats started a game of monopoly using Americans' hard-earned money. And now, we are seeing the result of the liberal granting of loans to people who couldn't cash a dollar. Regardles of who you are voting for in the upcoming Presidential election, it seems likely that some groups' taxes will have to increase to pay for the financial mess we are in.