SocraticGadfly: AIG should have gone under

September 17, 2008

AIG should have gone under

If it did, due to all the fingers it has in various financial pies, we might finally get near the bottom of the slice-and-dice morass of the bubbleland of CDOs, CDSs, and other financial skimming alphabet soup. Yes, we’d pay for it now. But, we need to.

And, no, Mr. Levitt, AIG should not have gotten a Fed bridge loan.

Unfortunately, Ben Bernanke, kitchen creator of Uncle Ben’s Cooked Books, disagreed with me.

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