Monday, November 24, 2008

Lehman, AIG, CitiGroup and The Hole

We are, by definition, a blog (primarily) about insurance. But that risk management tool doesn't exist in a vacuum: it's part of the larger economic system to which we all contribute. For the past few weeks, the news has been about the $700 billion "bail out" (Latin for: "You own it now, sucker!"), which is itself a rather improbable number.
Now comes word that our political class is considering upping that ante, to the tune of almost 8 trillion dollars:
Words fail.
But thankfully (?), video comes through:
'Nuff said.
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