Over and over I keep hearing this mantra about how the American government cannot allow AIG to fail. So, because it cannot be allowed to fail, the government continues to funnel a never ending supply of money into it. But WHY can’t it be allowed to collapse? What horrible thing is going to happen?
I know this much. Ben Bernanke must be the worst poker player in the entire world. How else can you explain the fact that he keeps telling the world that he will do whatever it takes to keep AIG afloat? 150 billion? No problem. 200 billion? Sure thing. 300 billion? Ben will be really, really mad and slamming his phone down but the check is in the mail.
Of course the good folks at AIG are spending like drunken sailors. They have an open ended credit card and they know it. Want to spend 100 million on bonuses? Knock yourself out. Want to send billions of dollars to foreign banks so that, essentially, the American people are bailing them out? No sweat. Keep acting like you are mad, Ben. It is working like a charm.
Up to the plate stomps Barney Gay and Nancy “who stole my eyebrows” Pelosi. Even more and more barking with no action being taken. How is it possible that the Fed AND the government have no control over the situation? Oh, I know. Because they have NEVER had control which is how this whole thing came to be in the first place. Of course, since all of these people belong to the same gene pool, I think it is a little unreasonable to think they will actually punish each other.
Hey AIG…be very grateful that the US citizens are powerless in such matters. If we weren’t, you would be shut down by the end of the day and you could take your “bonuses” and shove them up your collective a**es. Of course, you would have no bonus to shove because we would have already taken that money back.
If you can create the FDIC to protect banks, just make up a new acronym to protect insurance companies. Surely, it would be cheaper than just flooding these idiots with money on virtually a daily basis. Better yet, let AIG fail and let their competitors swoop in and pick the bones clean. Then, make the ex-employees work at McDonalds until they save enough money to pay the US taxpayer back.
In the meantime, Bernanke, Frank, Reid, Pelosi and crew, could you just shut the hell up?!? Either do something to fix the problem or just shut up about it. Acting like a powerless victim is exceedingly annoying.
And hey, where the hell is Barry while all this is going on? Can’t the POTUS shut this thing down in the blink of an eye? Well? What are you waiting for…a fist bump?