Broke!

The bailout of AIG has exposed more than just the collapse of Casino Capitalism. It exposes the governmental system to be as much a sham as our economy has been! How is it that $85 billion can just materialize to bail out this one insurance company (insuring for the most part, opaque, enormously complicated and risky investments) without so much as a session of Congress? Where is the appropriations committee in this matter? Where were they when the Bear, Stearns/JP Morgan deal went down on a Sunday?

What has been exposed here is the complete absence of the United States Government as it is supposed to work. In its place are Treasury Sec. Henry Paulson and Federal Reserve Chairman Ben Bernanke making decisions about spending sums of money equal to the budgets of many small nations


…AIG is insuring some $600 billion in securities