Friday, October 24, 2008

AIG Uses Up 75% of Its Bail Out Capital, Says Taxpayer Handout Not Enough to Cover Its Gambling Depts

Like some strung out gambling addict, AIG has already depleted most of the $123 billion the federal government loaned it to guarantee partners who made risky mortgage investments. Now they're in denial and holding their own existence over the heads of taxpayers by saying that $123 billion is not going to be enough.

Why is it that government is always expected to get leaner and meaner in rough economic times, but businesses can continue to feast?

Like any hopeless gambler, AIG responded to the bail out by resorting, literally resorting when they should have instead stopped digging the hole.

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