[EBH]

This is exactly why none of the companies should have been bailed out!

Circumventing established bankruptcy law has brought this about.

Bush started this, but when AIG went back for seconds and thirds...they should have been referred to the courts, NOT CONGRESS.

Now we have an administration that has usurped power that does not belong to them.

This is what happens when the checks and balances are not followed and pure emotions run amuck.

[3niner]

This is exactly why none of the companies should have been bailed out!

I agree, I've never believe that the bailouts were justified, in the first place. Sure some big companies would have folded, and taken other companies with them, but businesses that (and people who) had not been stupid and dishonest, would have bought up the assets for pennies on the dollar.

This would have resulted in better management of the assets, and provided an object lesson for everybody.

Also, fraud charges should be aggressively pursued against the many who committed criminal acts to bring about this meltdown.