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  • Wall Street Breakfast: Must-Know News [View article]
    Come on, commenters, lets get at least a little accuracy and objectivity in the AIG controversy. Almost all of AIG was well run by competent employees. AIG was gutted by ONE division that played fast and loose with highly leveraged derivatives that went south, all the way to financial Antarctica.

    MOST of AIG continued to be well run and still is. MOST of AIG has been continuously profitable. MOST AIG emplloyees are good, competent people.

    I know you're angry about the bailouts. I am too. But let's keep the comments accurate. And the part of the AIG bailout that makes me furious is that the ONLY reason our "leaders" bailed AIG out was that Goldman Sucks was counterparty to many of AIG's derivatives and would have taken huge losses if AIG failed. The AIG bailout was really a GS bailout.

    The underlying belief of our "leaders" is that what's good for GS is good for America. It was wrong when they said it about GM and it's wrong about GS too.
    Nov 11 10:50 am |Rating: +8 -1 |Link to Comment
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