Buffalo Boy's Blog

What's another $30 billion right? They already got $150 billion from George W. and Hank Paulson why not give them another $30 billion, hell make it an even $200 billion.

I know most people out there are outraged at the rate the government and the Federal Reserve is handing out cash in the billions and thats fine. I see it their way just as much as I see it the other way that letting them go under could be devastating too. The key word there is "could".

How bad is AIG in the hole if $150 billion just disappears in what five months? How much time will $30 more billion really buy them before they are coming back with hands outstretched for more? A month tops?

I know all the doomsayers out there preaching the end of life as we know it if AIG goes down but life as we know it is going to end if the US treasury goes bankrupt handing them $30 billion a month too. If they are hurt that bad maybe its time to let them sink and suffer what ever consequences follow. At this point they have been shot and run over twice with a car and they are on life support, they can't stay on the ventilator that is the taxpayer forever.

I look at it this way, how much worse could things get? Since September the DOW has shrunk by over 50%, has our GDP really shrunk that much for the DOW to go down that much? So I think that things in the stock market have over reacted. So is AIG really going to hurt things if we just let them do their thing?

They have assets to sell, its not like they can't sell off parts of the company. But at the rate things are going, the government can't keep handing it to them when they ask for it, it doesn't make sense. Someone else will step up and fill their void in the economy if they cease to exist and I don't think things will get that much worse for it. Stick a fork in 'em they're done.