WASHINGTON (AP) — American taxpayers awoke Wednesday to learn they may end up owning one of the world’s largest insurers. They might now lose some sleep wondering whether the government’s $85 billion loan to American International Group Inc. was a wise investment.
If the gamble succeeds, the company nurses itself back to health, unhinged financial markets calm down and taxpayers turn a profit.
If it fails, the American public feels the hit — and possibly finds itself rescuing other major financial institutions, swelling the deficit and potentially driving up interest rates on mortgages, student loans and other debt.
It’s funny that they say “If it fails”…
Who knew Atlas was such a wuss?