F for Failure

5 questions: Why AIG matters to you

Here's an informative little piece on the next big financial firm that's likely to bite the dust. AIG, the world's largest insurer. This will likely hit mutual funds pretty hard and in tandem with Lehman Bros tighten up the credit market. Basically... say goodbye to about 25% of your 401k.

Thanks conservatives for your de-regulation! I really wanted to work for an extra 10 years in order to retire comfortably. Thanks for forcing me to have a strong work ethic.

P.S. I find it funny how much people preach "free market" philosophy but then have the government and taxpayers bail out all these corporations. Corporate Welfare... ain't it grand?

UPDATE:

Fed takes over AIG - $85B loan

Wow. That was fast. Hooray taxpayers... you just bought yourself an insurance company!