Three Questions about That Pesky AIG Which No One is Asking or Answering
Sunday, March 15, 2009
1. If those credit default swaps AIG sold from its London office were really insurance, why has no insurance commissioner called them on it? If I put a bunch of stuff on my car and drive around without a license and at 100 MPH, it will do me no good when I'm stopped to say "this isn't a car, it's the batmobile.
2. The credit default swaps were just like selling life insurance to residents of hospices. Isn't that fraud?
3. Why can't the federal government tax remuneration greater than, say, $500,000 a year at a marginal rate of 100% in those entities owned or controlled by the Federal Government under TARP?
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