Market Movers
by Felix Salmon
Mar 2 2009 1:23PM EST
The AIG Scandal
...the scandal is that AIG could have earned billions of dollars by selling insurance against a meltdown, even as it was wholly incapable of paying out on those policies. I wouldn't be surprised to learn that Hank Greenberg was still a billionaire, even as the policies his company wrote have cost the average American household some $1,600. It's time for his wealth to be confiscated: it might be only a drop in the bucket compared to AIG's total losses, but it would feel very right.
We should also go after some of the MOTU who made a LOT of money creating the Big Shitpile.
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