Wednesday, December 2, 2009
"We Own AIG"
I have heard this quote, or very close variations on it, often. It also extends to GM and other bailed out institutions. Of course it's a huge fallacy to claim that "we" own anything as taxpayers. If "we" actually owned it, "we" could sell it at any time. And that can't happen. Any time someone claims they are "paying back TARP money to the taxpayers" I want to stand up and ask where the hell my check is. Of course no check is coming, and if it did, it might very well bounce.
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