AIG In Talks With Government To Secure Additional Funds to Keep Operating

[Sam Spade]

AIG Is In Talks With Government To Secure Additional Funds to Keep Operating, CNBC Has Learned (story developing)

I'll post the story when it appears.

If you want to talk about a black hole, well, this is the black hole of all black holes... 

No wonder the government will never nationalize it.  Or let it die.  Even after 6 months, the regulators still can't figure out what the hell is in this thing...

UPDATE:  http://www.cnbc.com/id/29353282

[Torie]

Why doesn't the government just take over the entire economy? Heck, given the asset deflation, the government can get it all on the cheap, maybe for about 25 trillion or so. Since the government seems able to spend unlimited amounts of money now, without hyper inflation, this seems to be totally copacetic. Heck, we could have congressional committees run certain industries, or at least oversight them. And loyal campaign staffers could get CEO positions (subject to a 500K cap of course per year; no more obscene salaries!).

[Sam Spade]

Why doesn't the government just take over the entire economy? Heck, given the asset deflation, the government can get it all on the cheap, maybe for about 25 trillion or so. Since the government seems able to spend unlimited amounts of money now, without hyper inflation, this seems to totally copacetic. Heck, we could have congressional committees run certain industries, or at least oversight them. And loyal campaign staffers could get CEO positions (subject to a 500K cap of course per year; no more obscene salaries!).

Seems to make sense doesn't it.

The bond market is the eventual backstop to your plan.