AIG Gets $30 billion more? - Let them go bankrupt!

My pet project is to talk about General Motors and how the federal government should let them go bankrupt.

AIG Insurance company needs an additional $30 billion bailout after losing $61.7 billion in the fourth quarter.

So... we're debating whether to give General Motors $4 billion but we're easily going to give AIG Insurance $30 billion.

This is completely ridiculous... the problem is... I can understand a little about the car industry... I have no idea about the insurance business.. (I understand life insurance) I don't understand the high level complex financial products that AIG has created.

AIG MADE TONS OF MONEY

These companies who are getting bailout money enjoyed making alot of money during the hay days. They all enjoyed the upswing. Now, with the downswing they're not enjoying themselves.

From my understanding, capitalism is all about peaks and valleys.. You make profit in the good days, and manage carefully during the down times.

Nobody wants to take the lumps of a down market.

This isn't right. And it's going to cause more problems in the future.

As painful as it may be... why not let AIG fail and restructure. Isn't business about Caveat Emptor? If individuals and companies have insurance with AIG... let them buy insurance from other companies...
I know that's not as simple as it sounds, however, caveat emptor...

AIG performed badly and should be treated accordingly. It's customers should realize that they purchased products from a bankrupt company.

CAVEAT EMPTOR - A business term for capitalism

I think consumers are getting pretty sick of government bailouts... myself included.