Former AIG CEO Maurice Greenberg testified today before Congress. Greenberg left AIG in 2005 and blames AIG management for the company's failure, not its business model.
Really? Bailouts don't work? I seem to recall hearing a lot of chatter over this for the past seven months!
Greenberg adds that American taxpayers got a raw deal.
In essence, Greenberg is saying socialism will fail. Using taxpayer funds to "control" and "manage" U.S. companies will ultimately never work.
It's socialism; and socialism has failed every time it's been tried.
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