[quote=capeman]I don’t see how you got that from my post. I said it is the government’s responsibility to cover depositors. That would be cash depositors of banks and not customers of companies like AIG unless I missed something and they became a bank holding company like GS.
If the government would have never bailed out AIG we would be much further through the imminent depression and deflationary credit collapse by now. The major pain has not been taken yet and when .gov can no longer prop up the system we will see much worse than we’ve seen so far in this declining economy.[/quote]
OK, I have no problem with this. But, just to be clear, you think it’s ok if virtually all of AIG’s claims are voided, or heavily discounted?
So, for example, some guy with $500K of life insurance through AIG dies. GS and the other banksters get nothing. But this guy’s family gets nothing as well. In other words, all AIG claimants are treated equally – and get nothing (or next to nothing) as the company’s insolvent and doesn’t have sufficient capital to pay out claims.
