Tuesday, March 17, 2009

This is why bailout is such a bad idea

Check this link

US Government has give billions of dollars to AIG, and now the AIG execs, who has failed their jobs and run the company to the ground, are having a good time giving themselves millions.

This will most likely not happen if some private investors bought AIG, because that will be their money and they will be extra careful about the money. The government just dumped billions into AIG without much considerations. Because it is not their money, it is tax payer's money. The government should kick out the executives naked (because they failed) and do a clean take over with pennies on the dollar.

I only hope they learn something from it and don't be so dumb when bailing out GM.

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