What If Washington Bailed Out of Bailouts?
Monday, March 23, 2009 : PermalinkBusiness week – The idea certainly seemed all right to throngs of Americans who were outraged by news that American International Group (AIG) paid out millions of dollars in executive bonuses after it was rescued with taxpayer cash.
But would no bailout be even worse? Financial analysts and federal officials have warned that doing nothing to save AIG—or banks or the auto industry—would be a catastrophe, an economic domino effect of bank losses, stock market chaos, and job cuts. No one—at least no one in the government—has the stomach for that.
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Tags: aig, american-international-group, auto industry, bailout, banks, domino-effect, federal officials, gamco investors, Hedge Fund Heavyweights, job-cuts, leon cooperman omega advisors, losses, market chaos, mdash, stock market, stomach, wisdomtree investments
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