So ineptitude, poor decision making, and bad investments are OK....but only if you’re a HUGE company...?
“So ineptitude, poor decision making, and bad investments are OK....but only if you’re a HUGE company...?”
Don’t assume this is AIG’s fault.
Bad decisions made by other companies had a rippling effect throughout the market - companies that already went belly up.
What do you prefer?
A bailout? Or closed banks?
Not quite the same thing here, but that isn’t to say that I disagree with you.
AIG’s problem isn’t necessarily that they’ve made bad investments. Their problem is that they insured the bad investments of Merrill, Lehman, WaMu (who is next) and others. Now they’ve got to pay up, and because their credit rating was lowered on Tuesday they can’t raise the caseh.