From us to AIG to…Goldman?

We are bailing out AIG because it has to pay 25 banks – including Goldman  and Bank of America – for credit default swaps it sold when this whole scam should have been illegal. The only solution is to nationalize what’s left of AIG and tell those banks tough luck on any more payouts. Obviously, we should have never bailed out AIG in the first place, and those swaps should have been regulated like insurance. Too late for that. But an AIG bankruptcy and a domino effect of bank failures couldn’t be any worse than the economic purgatory we now occupy. Now all we’re doing is financing the New York elite’s status quo, rather than putting all of those crooks in jail.

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