Well, not exactly. The collateralized debt obligations exceeded the reserves of THAT DIVISION of AIG, but not the reserves of the entire company. Obviously, the reserves backing the life insurance policies in force could not be accessed to rescue THAT DIVISION of AIG.In that case is it pretty awesome the taxpayers backed up THAT DIVISION OF AIG when the rest of AIG wasn't willing to step up to the plate. Why should they? People who actually work for a living paid their blunders. Since THAT DIVISION OF AIG needs to reach into my wallet because they made stupid and irresponsible decisions, I propose a rule that all AIG executives spend one year in jail for each million dollars of taxpayer dollars they require to keep themselves solvent. I would rather pay taxes to keep criminals in jail than pay taxes to pay for their gambling debts. Maybe we should take a poll?
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