In the Wednesday, October 6 edition of the Sun News in the Money Section there was an article about the AIG executives responsible for the company's collapse. It turns out that they had been hiding losses and risks stemming from mortgage defaults. Big Surprise!
I fail to understand why a company that played Russian roulette with billions if not trillions of dollars should be given $85 billion. What puzzles me even more is why the U.S. government would assume responsibility and bear the weight of this problem. Where is AIG taking any responsibility? Nowhere that I can see.
This seems like a giant handout in its purest form - one whose bill, we the taxpayers, are paying. It is ironic that we are paying to bailout a company and its executives who were part of the chain that shackled our economy.
Why didn't anyone with any authority at AIG come forward before it was too late?
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