Reply #100: I don't know why this hasn't happened already:

[sabrina 1]

A good first start would be the immediate of a law which would, in effect, re-institute some form of Glass-Steagall Act, prohibiting banking and insurance commingling entities.~ gallowglas

And, how about adding 'co-mingling banking with accounting and investing practices'. Wasn't it illegal for banks to use depositors' money for investment purposes in the past?

Phil Gramm should go down in history as one of the primary causes of this financial terrorism that has brought this country to this disastrous point.

I have a question, trying to understand this mess. You seem knowledegable about it, so I will direct my question to you, Galloglas.

If the money AIG is receiving is mostly going to pay ITS debtors (Goldman Sachs, BOA et al), why can Congress not simply remove them as the middle-man, then deal directly with those Corps rather than allowing AIG to, in effect it seems, launder the tax-payers' money and hand it over, without telling Congress (the people) where it has gone? Didn't Paulson et al, refuse to tell Congress (and Bloomberg) where the money is going?

Wouldn't that give us a better opportunity to find out exactly what these Corps were up to as each held out their hands to receive the money directly from the people? And to expose any wrong-doing on their part?

As for AIG, why can't they be replaced by several smaller companies, hiring all new executives (surely this country has a few honest, capable people who could handle those jobs?