Bailout, then sue Government for saving your company

[anunitu]

I really was shocked by this.

http://www.newsday.com/business/ex-aig-ceo-s-company-suing-government-over-bailout-1.3338114

If they haden't been bailed out,the whole company would have failed,taking the economy with it.

Weird world,weird economy

[clive]

The government shouldn't be picking winners and losers, there are mechanisms to handle failure and circumventing them just leads to other points of failure.

There has been a huge lack of oversight, permitting companies getting "too big to fail", and not policing outright fraud, see Madoff and MF'ing Global.

Have one set of rules, and stick to them. The Euro problem is another example of rewriting the rules, allowing in members who don't meet entry requirements, huge disparity in social/fiscal policies of members, and making stuff up as you go along. It's pretty much a recipe for failure as things spin faster and out-of-balance.

This is compounded by a total lack of transparency on who is actually holding the real debts, and not synthetic instruments based on the debt or bets on failure.

[anunitu]

The companys don't want regulation,saying they can regulate themselves,but they will do anything for the all mighty profit.
LARGE companys should be regulated as far as taking stupid risks,like MF globel. They end up screwing retirement funds as well as killing jobs in their own companys. If it isn't a Legal remedy to keep this speculation in check,it is a moral offence when you cause large groups of people to be caught in the undertow.

[baltoro]

ANUNITU,
Yeah, This morning in the Los Angeles Times, there was an article about this. As you well know, in California, litigation is a HUGE industry.
In fact, I feel like suing someone. I'm thinking,...everyone in the Southern Hemisphere (except, of course, for one disgruntled resident of Sydney, Australia),...
What for ??? I don't know,...maybe, being out-of-phase on the whole Global Warming thing.
...Unspecified damages,...it's a fait accompli,...
I remember thinking at the time AIG was demanding the bailout,...the Federal Government should have allowed it to fail (forced it to collapse into bankruptcy),...and, it would have taken the U.S. Court System an eternity to resolve the cascade of litigation.