Posted by: mutantpoodle | September 26, 2008

Question of the Day

So the GOP’s brilliant idea is for the government to insure the Big ShitpileTM. Isn’t that what did in AIG?*

More specifically, the real problem with handling this crisis is that no one really knows what any of this crap is worth, which means that insuring it is just as risky as any other bailout plan.

At least John McCain is on the case. I feel so much better now.

__________________________

*”The problems at AIG stemmed from its insurance of mortgage-backed securities and other risky debt against default. “

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