OK Folks, Grab Your Ankles
That bailout for AIG - and possibly others with credit card debt, etc, is going to be a severe BOHICA* for the American public. Depending on if the amount is 700 billion or 780 billion, that will hit up everyone in this country for somewhere between $2,300 to $2,600.
Plus, taxing won't get the money in time. Neither will selling bonds. The only way to get that money is either borrow it from another nation or crank up the Bureau of Engraving and start printing money like toilet paper - which would devalue the dollar to the point that the toilet paper analogy might not be that far off.
Why not let AIG divest itself of some of the companies not directly connected to it's core business.
And how about they and others stop mortgaging the unemployed, the illegals, lending to people buying more house than they can afford, and those who are already in debt up to their hairline?
Living on pensions, I do my best to ensure that I can pay all my bills - mortgage, credit card, medical, taxes and others. Can someone PLEASE explain to me - preferably in words of one syllable - why I should be paying for the deadbeats that the banks knew wouldn't repay their loans?
* Bend Over, Here It Comes Again