Eight people, including four attackers, were killed in a car bombing outside the US embassy in Yemen today, a Yemeni security source said.
Bush Regime's Parting Gift To America: Socialism
What DDay Said
Yes, that's right, you've got a troubled insurance giant with billions of dollars tied up in worthless pieces of paper masquerading as securities. Yours for the low low price of $85 billion dollars!
You know, if this was Bolivia, the State Department would put out a strong statement declaiming the nationalization of industry and the stifling of private enterprise. But of course, in this case, industry made horrible decisions, so that justifies the Communism. It's unclear to me that it's even legal for the government to structure this absent legislation, but we're in a brave new world.
To be clear, AIG perhaps was too big to fail. And the hash that has been made of the financial markets cannot plausibly be worked out without government intervention. But can this be the end of the "drown government in the bathtub" rhetoric we've heard from conservatives since Goldwater? They eliminated regulation and oversight, ignored the maddening decisions made by the big banks who gambled with borrowed money and lost, and then obliged as the corporations came begging for a handout.
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