We were told by our government that without massive Federal bailouts, firms like AIG would collapse, and along with them, the entire economy. And yet now we find ourselves in a situation where, because of the way our government has behaved over the course of the last two months, firms like AIG are either refusing or returning their bailout cash.
Assuming our government was telling us the truth (and here I'll pause a second for you to get your giggles under control), there's only one inescapable conclusion to be reached from all this information.
These firms are volunterily choosing to face death rather than get into business with the Federal Government. What an unbelievable indictment of the decision-makers in Washington.
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As Treasury Secretary Timmy Geithner announced his private-public capital plan to relieve banks of toxic assets, how many people think that private investors are thinking to themselves, if I get involved in this and start to make a bunch of money, at what point will the government step in and say "you've made too much, you'll have to give some back."
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