Another damn bailout!

Arrrrrrggggg!  I can’t believe it.  The government is going to do another damn corporate bailout.  I was watching the news today during lunch and apparently AIG is getting a new bailout deal from Uncle Sam.  I’m not entirely clear on the situation, but it sounds like this is a new one with “better terms” and possibly replaces a previous one?  Apparently things are in the crapper for AIG due at least in part to mortgage backed securities being in the tank.

So again, as part of the package, the government is going to buy some of AIG’s bad debts.  This is supposed to help the economy.

Hmmmmmm….   here’s an question.  How does the government bailing out AIG and other huge corporations help the “economy”?  The bailout certainly isn’t going to make things any easier for me.  It’s also not going to make things any easier for the mortgagees that AIGs problems stem from.  AIG certainly isn’t going to cut those people a break because the government bailed them out.  Seems to me that the state of the economy is driven at least in part by consumer spending.  How ’bout we help out the consumer instead…

Here’s an idea Uncle Sam:  Find a way to bail out the consumers in danger of loosing their homes because they can’t pay the mortgage.   Then maybe they’ll actually pay their mortgage and companies like AIG with investments in mortgage backed securities wouldn’t be loosing money and wouldn’t need a bailout…

But… then again… that’s probably common sense… and we can’t have that in government.  What was I thinking?