We have already given AIG $113 billion (yes, with a "B"), and now the Treasury is proposing another $40 billion in the name of "stability." U.S. Provides More Aid to Big Insurer [NYTimes.com]. When will the fiscal discipline of the marketplace be imposed? Consumers aren't affected at all by AIG, and certainly do not care about credit default swaps. So this is straight corporate welfare and very annoying. Stop it already!
Update: Contrast this with the very controversial proposal to loan the embattled U.S. auto industry a whopping $25 billion, or less than 1/6th of what a single insurer has already been given, gratis. It's just insane.
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