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Mar 20, 2009

The Nationalization Continues

After a tip from my housemate, I located this news story that illustrates the true effects of the bailout on any company foolish enough to take the money. Take government money, and there is no limit to what the would-be dictators in Washington will dictate. They will feel free to order you to violate your contractual agreements regarding bonuses, for instance, because people are "outraged". The economic dictators feel no need to be restrained by anything like legality, contracts, or common sense. These social metaphysicians seek only to appease the loudest screamers of the immediate split-second.

AIG is doomed--either it will finally be "allowed" to fail (after destroying yet more millions of dollars of taxpayer money), or the government will soon own 100% of the company and keep it in operation like a corpse animated by ropes tied to the ankles and wrists. It will become a Ponzi scheme as grotesque as Social Security.

If you have money in AIG, get out. Get out, get out, get out, no matter HOW much it costs you. And maybe do some screaming of your own, before this nationalization spree continues.

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