Saturday, September 27, 2008
Rob Styles' Penalty Decision
"George Bush today defended the US central bank's decision to bail out giant insurer AIG and sought to reassure markets that his administration was intent on confronting the growing crisis.
The AIG rescue was the fourth taxpayer-funded bailout of the year by the Bush administration, although it is at odds with Bush's free-market ideology and economic policies. Critics of the recent bailouts have said taxpayers should not foot the bill for investors' bad business decisions, and have wondered aloud why AIG and government sponsored mortgage companies Fannie Mae and Freddie Mac won massive government rescues while investment bank Lehman Brothers was allowed to crumble."