Holding another hearing as markets plummet day after day.
Senate Banking Committee hearing on AIG on now.
CNBC has it.
Here is what will happen. They’re furious, everyone is too blame (including Congress), and some CEO (or someone) should give back their bonuses (or something). But, if AIG collapses, the world will truly meltdown and we will all be living in Dubya Towns in the local park.
What should really happen? Richard Shelby (and Chuck Schumer) should be publicly flogged along with every Senator who opposed and worked against appropriate regulation of financial markets. AIG was allowed to be as stupid as they wanted to be because the GOP (and certain Democrats) has fought against regulations and sought to deregulate business and finance at our extreme peril.