> Rod Speed gmail.com> wrote

>> Immortalist yahoo.com> wrote

>>> http://www.democracynow.org/2008/9/17/us_seizes_control_of_aig_with
>>> http://www.democracynow.org/2008/9/17
>>> http://en.wikipedia.org/wiki/Glass-Steagall_Act

>>> ...NOMI PRINS: The bailout of AIG is an example of the government
>>> having to step in and clean up a mess. It is not so much that
>>> subprime mortgages fell and that caused some losses to AIG. AIG was
>>> acting not simply as an insurance company; it was acting as a
>>> speculative investment bank/hedge fund, as was Bear Stearns, as was
>>> Lehman Brothers, as is what will become Bank of America/Merrill
>>> Lynch. So you have a situation where it