Tuesday, February 24, 2009

More Outrage...

Word is that AIG will be asking the United States government for billions upon billions of more taxpayer dollars.

The reason? Well, the company is anticipating a loss than exceeds $50 billion dollars for this quarter (yes, you read that correctly--a private company is about to report an over $50 billion quarterly loss and, yet, will continue to apparently exist).

Folks, this alone is outrageous. At some point, a company that keeps losing TENS OF BILLIONS of dollars is simply not a viable company. It exists only as an extension of the federal government's funding. Any guise that AIG remains a "private" company is strictly that: a fiscal disguise.

But wait. There's more.

The excellent Market Ticker blog wonders if there might be more to this story beyond just bad business decisions.

Read the details here.