Buffalo Boy's Blog

I think that we as American taxpayers have a right to know how AIG got into a whole so big that its taking a loan of $85 billion dollars to help them out.

Where did all this money go? How did they mismanage this money so badly that they are in that big a hole. These people are in charge of managing our stock portfolios, our 401k's, insuring our banks and here they are with $85 billion that is missing. How did it happen? Thats about $250 for every one of the 300 million Americans in this country. That kind of buyout has happened a few times.

If the Federal Reserve, (essentially tax payer money) is going to bail them out, we have every right to know how this happened. And what guarantees are they going to give us that this isn't going to happen again? Honestly, do you really trust these people after this?

Merrill Lynch, Lehman Brothers, all of them that have needed huge buyouts to survive or have gone bankrupt. How did they lose all that money. And when they get the buyout or the relief from who ever gives it to them, how do we know this money isn't being squandered again?

Its all because George W. deregulated it and let these big coorporate, Wall Street financials do their own thing and now we, the American public are paying to turn it around. Maybe not directly but somehow, the average citizen is paying for this.

Remember when Bush wanted to privatize our social security? Im glad he didn't because right now a lot of peoples retirement would be screwed. I believe that privatizing social security was on the mind of Mr. McCain too.