The Real AIG Scandal, Continued!
The transfer of $12.9 billion from AIG to Goldman looks fishier and fishier.
What continues to be fundamentally disappointing is that the "too big to fail" institutions continue to absorb enormous sums of taxpayer support without either demonstrating the genuine need for such support or altering their behavior after receiving it.
After getting $12.9 billion in what now seems to be a mere gift, has Goldman begun to lend in a way that will restore the credit markets? Were they asked to do so?
It is time the government realizes it has two simple options: tightly regulate entities that are too big to fail or break them up so they aren't.