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For everyone who is complaining about the bailout of AIG [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
BzaDem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-17-08 02:28 PM
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For everyone who is complaining about the bailout of AIG
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Are you also against the idea of an FDIC? After all, the FDIC essentially bails out banks which become insolvent. Roosevelt was against the idea of an FDIC at first for this very reason.

Of course now no one in their right mind is against the FDIC. It is taken as a given that certain bailouts are necessary to avoid a total collapse of the financial system, which would certainly and immediately affect Main St. Whether AIG was one of those necessary bailouts is certainly debatable, but for those against the idea of bailing out irresponsible companies for any reason, keep in mind that the effects go well beyond that individual company.
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