OG or AIG?

Make it stop!!! Now!

AIG is the biggest insurance company, ney casino in America -- and we are bailing the owners out. These losers just lost 65 thousand million dollars. For those of you who don't know how much 65 billion is, it is simply 65 followed by a whole lot of zeros like yourself. Yes, the market needs stability, and if AIG goes down, so do most of the banks, pension funds, and others tied to the Credit Default Swap (i.e., insurance market). AIG is the key to the collapse. It should be put under conservatorship, for the sake of the economy. Bankruptcy can't happen because the courts can't move fast enough to facilitate a successful solution when the economy needs pricing and signal information from the market.

But AIG's corporate officers have NO credibility. They cannot ever ever ever restage a comeback because no one can ever believe them again. They are a Bernie Maddoff. They will not get it back until they and their investors who let this happen are somehow purged. I don't care if you call it nationalization, socialism, communism, democratic control, or free market healing, just make it happen.

We are delusional if we think the guys who, although did not create the mess, financed it and gave the priestly blessings to these contracts, are fully discredited. They already don't have credibility, which has the same root word as credit. See, they got none. And neither does Citibank, Bank of America, Moodys, S&P, PricewaterhouseCoopers, KPMG, Andersen, Deloitte, E&Y.

After Enron and WorldCom, why did all of Andersen's accounts look bad? They all had to change auditors. That didn't happen at the other accounting firms. So selection bias made Andersen the fall guy. Why else did the other accounting firms "buy" all those Andersen partners (who by the way were all dicks)? This crisis was a long time brewing, and you know for damn sure that they don't think anything has changed except for their anticipation of more regulation for their industry and financial losses for a couple of years.

BTW, I think the Adelphia Communication prosecution was a set up. Yes they were breaking the law, but the USA sent a very old man to prison. That was the image the news controllers wanted you to remember. You barely heard of the fraud at the subprime lender Conseco/Greentree. An insurance company in the mortgage business? You do the math.