AIG: Helping to Ruin the U.S. Economy One Tax Dollar at a Time

We interrupt today’s election coverage to bring you the latest chapter in the ongoing AIG saga.   Apparently, the former insurance titan has now become a money pit.

According to the Washington Post,

A number of financial experts now fear that the federal government's $143 billion attempt to rescue troubled insurance giant American International Group may not work, and some argue that company shareholders and taxpayers would have been better served by a bankruptcy filing.

And who’s to blame for its current financial woes? If you’re expecting AIG's usual finger pointing (i.e., it's the civil justice system!!!) you will be sorely disappointed. In fact, “AIG declined to comment on the
matter.” But that didn’t stop the Washington Post!

AIG's Financial Products division is the primary villain in the
company's free-fall. It made tens of billions of disastrously bad bets
on mortgage investments but may not have carefully hedged those bets or
properly estimated its risk.

That's right, civil justice fans--AIG’s greed and mismanagement strikes
again!