Bailout deal ... NOT!

Photo: CNN - Sept. 29/08

This is not a reaction that instills confidence! The legacy he's leaving... trillions in debt, a never ending war, 4000+ dead and now... His own party failed to follow his wishes. His own nominee running for his job failed to persuade them. His speech to the American Public, forget about it!

The irony, the Democrats voted FOR it! McCain failed his first test and George W. just failed his last.

As Chicken Little said... well you get the picture.

*EDIT* After carefully reviewing Nancy Pelosi's pre-vote speech... shame on her! She too can share the blame. This was to be NON Partisan!

$85,000,000,000.00 AIG

I've never typed a number that big. $85 billion, that's the bailout amount the US Feds are rumoured to be giving American International Group. AIG will have to turn over 80% of it's assets. Management will be gone, replaced by new overseers.

I understand the need for this, but cannot help but shake my head. I realized that the entire world financial situation would change over night, should they fail. I understand that the insurance market is not remotely big enough to absorb their books of business. I understand it would be an insurer's market, cherry picking the cream of the crop, charging whatever they wanted. I understand the potential domino effect. I understand that the tangled web of what is owed to whom, who actually owns what and who's going to pay for it all would take years to sort out. I understand all this and hope that this serves as a lesson and these tentacles that spread out, overlap and interweave are cut clean and not allowed to grow back!

*I am no financial expert by any means, this is all just my opinion. I am absolutely fascinated by this entire train wreck and just can't stop watching... and shaking my head while having a slightly sick feeling!*