banks should only insure the loans that are issued and held by them. AIG would have been better off being responsible and not insuring loans to banks that did not hold the note. Personally, I think AIG should have been allowed to fail.
You know, many Americans were naive about money. They borrowed too much. But how many of them thought that the banks know best? I bet a lot thought that if the bank thought they could afford a 300 thousand dollar house, they probably could. WRONG!
I think the sad thing is most Americans have learned their lesson and will not trust banks. But have the banks and insurance agencies learned anything?
Doubtful- considering many of the employees got million dollar bonuses, all the while the banks are raising interest rates and payments on their customers.
The banks got their bailout money, they should make it easier for people to repay their debt and take a loss.
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