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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (479613)5/10/2009 7:24:45 PM
From: combjelly1 Recommendation  Read Replies (2) of 1571442
 
" AIG is a sinkhole."

AIG was critical. If they were allowed to fold, then that would have taken most of the world's banks with it. And that would have been fun.

International trade was at an almost standstill because of the uncertainty. By bailing out AIG, it restored confidence that the banks in question weren't going to go BK and, as a result, shipping company's started accepting letters of credit again. Now international trade is still depressed, but it is a lot better than it was.
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