What makes today's problem much more difficult is the more globalised nature of these companies. Globalisation has been going on for half a millenium, but the world has never been so integrated in an economic sense.
Also, it is not as if the Federal Reserve is buying AIG. They are acting as a lender of last resort, a common role for such independent institutions and a role they are meant to play. Yes, it is run by people from the business sector, but it's not like they have anything to gain from it except a stable economy.
__________________
One stumble does not constitute total failure;
One victory does not constitute total success.
Last edited by Mattk; 09-18-2008 at 11:57 PM.
|