Atlas Shrugged… and cost Taxpayers $85 Billion

AP:

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?

4 Community Comments, Facebook Comments

  1. Barron X says:

    .

    they could do some real damage to the GOP right about now

    by appealing to the envy of the working class.  

    What did the average investment banker make in a year ?

    How about in annual bonuses ?

    How about the folks in management ?  

    An ad could say how many employees worked at Lehman Brothers, and how many of those made over $1 Million last year.  

    Then mention how GOP deregulation removed any rules that would have limited risk and protected investors.

    Then mention that the Bush Administration was thinking of bailing them out with tax money extracted from the middle class under threat of fines and prison.  

    Low hanging fruit.

    .

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