Good simple explanation of the A.I.G. money pit
“A.I.G., Where Taxpayers’ Dollars Go to Die” by Gretchen Morgenson is a good three-page explanation of how taxpayer dollars are disappearing in the A.I.G. bailout. Due to secrecy, she could not follow the money all the way through to the ultimate destination (it might be mostly foreign banks, which would probably truly upset American taxpayers), but the article shows us where at least $50 billion has already gone and where another $100 billion or so is likely to go (hint: none will go into factories that hire American workers; none will go into infrastructure that will make it easier to do business in America; my ideas for economic recovery seem to be receding ever further into the distance).
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