Thursday, April 2, 2009

Former AIG CEO: Bailout Will Fail (Video)

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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