For everyone who is complaining about the bailout of AIG

[BzaDem]

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.

[TooBigaTent]

1. The difference is that the FDIC protects only a portion of us regular people's money.

AIG protects the entirety of their speculation.

A compromise I could live with is that insurance only protects the first $100,000 of each account. And no multiple accounts allowed.

This whole debacle is evidence that there should be an absolute limit on corporate size.

No one or company should be "too big to be allowed to fail."

They have just socialized the risk while privatizing the profits.

[caledesi]

2. I smell pizza! nt

[cali]

4. what a stupid remark. there was nothing tombstone worthy about the OP

[RUMMYisFROSTED]

7. -

[uponit7771]

3. WARNING ABOUT FDIC!! Your ACCOUNT has to be FDIC insured NOT just the bank being a member. Ask...

...IndyMac folk what happened with their rainy day stashes when the tried to pull some funds from their accounts that weren't FDIC insured.

Thx

[AlCzervik]

5. it's not just a bail out it's been nationalized, we the people now have an 80% stake in AIG.

[Rambis]

6. Isn't that the S-P-I-C?

according to McLame it is

[PA Democrat]

8. The FDIC is not taxpayer funded.

Member banks are charged fees for deposit insurance coverage. Unless the FDIC insurance fund runs dry, taxpayers are not footing the bill for bank failures. We ARE however footing the bill (for now) for the loan extended to AIG with hopes that the taxpayers will eventually be repaid.

[Teaser]

9. I'm not complaining, I just want a bailout too.

.