Wednesday, March 25, 2009

"poor AIG was just a victim of a lot of shitty luck"

If you don't mind a little self-flagellation America, give this quick Rolling Stone article a read. Highlight:

".... all this happened at the end of eight straight years that America devoted to frantically chasing the shadow of a terrorist threat to no avail, eight years spent stopping every citizen at every airport to search every purse, bag, crotch and briefcase for juice boxes and explosive tubes of toothpaste. Yet in the end, our government had no mechanism for searching the balance sheets of companies that held life-or-death power over our society and was unable to spot holes in the national economy the size of Libya (whose entire GDP last year was smaller than AIG's 2008 losses)."

P.S.: I was kidding about the 'quick' part......

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