You guys may have already seen this since it ran in the NYT this weekend. But, it was in the business section. I never read the business section. That might be why I am completely at Paul Krugman's mercy when it comes to economics information. But, I digress. This article has a good run down of why AIG is in such a mess and why we keep throwing money at it.
Bottom line: Holy crap do we need better financial regulation.
2 comments:
please excuse me while I go puke for the next 9 years.
Jeezus. Can there be at least jail time? Make some of these f-cks spend a decade or two in close quarters with Cheney on Alcatraz?
anyhow, I encourage the reading of this blog post from The New Republic (yes, on FP they are too hawkish but on other stuff, pretty good).
The initial post is provocotive and a little scary, but the comments by the readers are really interesting regarding AIG.
And certainly it seems clear that much like Warren G., the financial markets need to regulate.
http://tinyurl.com/bdctmb
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