AIG Is Attempting To Bilk Even More Taxpayer Money Out Of The Government

I supported the Fed stepping in and saving AIG because of the interconnectedness of the financial Frankenstein that government is complicit in creating. I have no desire to live in a post-modern world where we forage for grubs and eat rats as an afternoon snack. But it seems Washington is hell-bent on sending us to the Rat House for lunch.

AIG should have been put into receivership while Federal and/or private sector auditors determined an immediate course of action to unwind its interconnectedness and allow AIG to then either find a buyer, present a business plan to get back on its feet or fail. We wrote about a need for external auditors to be engaged into this crisis to recover transparency the first week this mess unfolded. We still don't have a clue what the hell this money is being spent on. This has turned into a goddamn mess. Bernanke's testimony today finally seems to be crystallizing he is extremely competent regarding monetary policy but has some bizarre notions about economics. He still thinks globalization is coming back and that is the primary key to a recovery. There is zero chance of this happening. Zero. We've hired a bunch of whac-a-mole gamers.

For God's sake, I could have built five companies the size of AIG from the ground up for all of the money the Federal Reserve is pumping into this mess.

I have a better idea. Let's hire this guy.