Those that complain about the economy all to often consider laissez-faire to be Free Market Economics.This simply is not true, and the “AIG Bailout”is a good example of why that is so. Even in capitalist countries, where Free Markets are the norm there are laws and practices that serve to protect the public.
Certainly because of the scope of a failure by AIG, intervention of some sort was badly needed. A collapse would have had International Macroeconomic implications that at least theoretically, could have caused financial collapse worldwide.
The takeover, or bailout as I see it by the government, is more a Free Market approach, than simply taking AIG over. It appears to be more of a private enterprise buyout, but only time will tell.
Conservative Libertarian Outpost 
September 19, 2008 at 00:57
The Largest Insurer in the country is effectively nationalized due to lack of regulation and you call it the free-market at work? That’s some impressive spin!
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September 20, 2008 at 15:36
That was a comparison contrast piece Chris. Laissez – Faire would have gone unchecked at all. With the resultant collapse of the world economy a very real possibility.
Care to elaborate on how I am spinning anything?
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